FMG 0.00% $21.76 fortescue ltd

What a call earlier today, spot on! "close at daily highs 4.20+...

  1. 2,060 Posts.
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    What a call earlier today, spot on!
    "close at daily highs 4.20+ will be TA bullish breakout pattern confirmation"
    closed at 4.21 again as I called it.
    Bullish breakout pattern in full view, clearing 4.30 this week will be the test, if its smashed through then 4.65 here we come.

    I called the todays daily close & fridays spot on also,
    Daily chart last 7 days bar 1 has been a shorters nightmare.
    Long higher green bar with 12c body 1c tail and 1c wick, very bullish
    So I have called 4.30 & 4.65 resistance.
    I have called shorts being burned.
    Gap closing to 4.30 -4.65 so shorts from here must cover/buy if not already.

    4.30 is the 70c rebound point so I expect if this is another suckers rally that we will find out around 4.30-4.40 as that wont hold but my view is that its going to 4.65 and this is a technical & fundamental rerate rally right now.

    I mean FMG should be at 6.00 right now on fundamentals and if these yankee short sellers werent here it could be. The BB should be increased from $500M to $1B and the free float sucked dry of these shorters by slashing the equity on hand. The BB has been a great decision thus far.
    Last edited by Samboy69: 05/11/18
 
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