FMG Technical Analysis, page-11542

Hi all. Looking to get back into FMG after some time out of it. As in, the last time I held it I sold for a tidy little profit at about 1.86 IIRC!

Fair bit of water under that bridge.

My chart shows your weekly gap at 15.87, which we pulled up 6c short of. Seems a long way to come from 30 bucks to miss a fill by 6 lousy cents...

FMG weekly is bearish AF at the moment. The daily shows consolidation on decent enough but falling volume over the last 3 days. Bears probably happy with their bank by Tuesday. IO also looks nasty with that engulfing candle with a day to run on it but it is still only really entering the support zone between the November '21 and October '22 lows. If I'm going to be proper bearish, I want to see that pattern south out of support, not at the top or even half way across it

For FMG there's a partial gap on the weekly at 15.57 as well as the one we just missed this week. A strong night for IO to pretty up that candle and might coax out some bulls to provide some of your liquidity for the shorters to sell into next week. Daily volumes might be falling but weeklies have been pretty consistent for a month or so

Incidentally, how do you see the volumes on the gaps in Jun, Jul and last Wednesday? Seems to be taking less and less to move the needle down, suggesting to me that bulls don't want to play with this stock atm?