Fortescue Metals Group Ltd forms bullish "Engulfing Line" chart pattern
Oct 28, 2020Trading Central has detected an "Engulfing Line (Bullish)" chart pattern formed on Fortescue Metals Group Ltd (FMG:ASX). This bullish signal indicates that the stock price may rise from the close of16.48.
Tells Me: The recent downtrend is due to reverse, now that buying pressure has overwhelmed prior selling pressure. Following a clear downtrend, we see two candlesticks where the white real body of the second completely envelops the black real body of the first, showing that the bulls have taken over from the bears.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Fortescue Metals Group Ltd forms bullish "Engulfing Line" chart...
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Last
$21.82 |
Change
-0.590(2.63%) |
Mkt cap ! $67.18B | |||
| Open | High | Low | Value | Volume |
| $22.18 | $22.19 | $21.80 | $110.2M | 5.031M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11208 | $21.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.82 | 8653 | 1 |
View Market Depth
| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |