Fortescue Metals Group Ltd forms bullish "Price Crosses Moving Average" chart pattern
Oct 30, 2020Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Fortescue Metals Group Ltd (FMG:ASX). This bullish signal indicates that the stock price may rise from the close of17.37.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars). Moving averages are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established uptrend. The opposite is true when the price crosses below the moving average, triggered a bearish event.
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 "Price Crosses Moving...
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Last
$19.06 |
Change
0.185(0.98%) |
Mkt cap ! $58.90B | |||
| Open | High | Low | Value | Volume |
| $19.38 | $19.38 | $19.01 | $97.38M | 5.077M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 16615 | $19.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.06 | 9093 | 22 |
View Market Depth
| Last trade - 12.10pm 01/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |