FMG Technical Analysis, page-26

@Rosayrov
I used to be a daily optimist like you until I daytraded FMG twice and lost $30k in 2 days using $500k in stock but made profits holding long. On up days FMG went down, so never again, but I keep watching it for the last 12 years as I am a LT like on FMG and have traded it many times but have been burnt short term.

The only way to make money on FMG is to buy at lows and hold long and sell at tops like I did 2.50-6.30 but it took 2 years in 2008.
Right now the question is where will FMG bottom out, 4.70, 4.30 or 3.50 as its shown signs of rebounds from 4.60 to 5.37 but cant get out of this range.

Rounding top pattern formed since 26 June. the plateau of 5.20-5.30 has to be kept to or it will fall back in a heap toward 5.00 then 4.70 again.

Today a higher solid green bar 3c body 4c wick and 5c tail, the 2 rises intraday got smashed downwards and shorters eyeing off another shorting session in arvo from 5.25-5.15.

Any close above 5.21 is bullish

Any close at 5.18 or below is bearish being another shooting star pattern. Im betting on closing at lows around 5.15-5.19.