FMG Technical Analysis, page-15

errr correction, what a close!
TODAYS TA Analysis
a lower starting long green bar, 15c body 2c tail 4c wick staying 1c above yesterdays bullish close of 5.21 so now it looks like a plateau on line graph but bullish green x 4 candlesticks in a row
FMG was hit hard at open but intraday recovery x 3 waves, bullish positive candlestick with volume confirmation.
That move in the last hour from 5.17 to 5.26 was stunning, this daily pattern is nowhere near the false start shorting patterns of the past few years.

however we saw this go to 4.70-5.37-4.70 before in May so now its 4.70-5.21-5.22 looks headed to 5.37 then what? Back to 4.70 or to 5.50 resistance point again?

If the Instos sense weakness in the share price spike they will short it back to 4.70 however looks like there are some strong volume buyers now involved even on down days like today and volume is strong.

Still waiting for August for bear trend break confirmation, no rush. Better to buy on the way up than get caught on a false bounce in a bear trend.