FMG Technical Analysis, page-5

So there we have it,

4.70 didnt hold, the bear cycle from End Feb has continued headed toward that 3.00-4.50 range i have mentioned many times on here led by some serious Insto shorters.

It looked like it had held flat for May-June but then another step down, that 22 June smash down to 4.50 was another shorting tester to 4.50 level but it rebounded back next day but today a red bar with 4c tail directing downwards, the bears shorters seem to be in charge yet again,

And some of you guys were talking this up at 6.50-7.50 when i was saying SELL at the 8 year triple top range, so i repeat......

WAIT for the 6 month bear cycle to play out by August (last year the ramp started at 3.00 in June) but IO price and other IO stocks started upwards in September.

May see a bottom out 3.00-4.50 range the 4.70 2 month resistance seems to have been broken and is now showing another false bottom at 4.75 like it showed also at 6.50 and 5.50.

AVOID the false bottoms! Go for the real bottoms and patience will be rewarded.