So here are my thoughts on a couple of indicators for the current FMG chart.
The top chart shows the 20 and 50 EMAs crossing twice before and threatening to do so this week.
This has always corresponded with an oversold signal on the RSI (bottom chart). We're not quite there yet (and may not get there) but this isn't an exact "science". The vibe is certainly more oversold currently.
The MACD shows a delayed buy signal about ~2 weeks later each time and BOOM goes the price.
Past performance doesn't mean it'll happen again but I'm bullish on FMG and think what we've seen over the last few weeks is a minor pullback (made to look worse than what it is by going ex-divie) as part of a larger upward move.
I will be watching next week closely. If the price consolidates laterally or makes a move upwards, I will be hopping in with a target of at least $20.
DYOR, this is purely my own amateur speculation.
So here are my thoughts on a couple of indicators for the...
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Last
$25.57 |
Change
0.250(0.99%) |
Mkt cap ! $78.72B | |||
| Open | High | Low | Value | Volume |
| $25.38 | $25.62 | $25.24 | $87.38M | 3.432M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 108 | $25.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.57 | 17507 | 1 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
$25.56 |
Change
0.250 ( 0.68 %) |
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| Open | High | Low | Volume | ||
| $25.41 | $25.62 | $25.24 | 1155324 | ||
| Last updated 15.59pm 02/05/2024 ? | |||||
| FMG (ASX) Chart |