FMG 2.25% $20.47 fortescue ltd

FMG Technical Analysis, page-6085

  1. 319 Posts.
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    I'm not sure that this isn't just part of the normal trading pattern in this stock. The trend remains intact, imo, strongly upwards although we seem to be having trouble getting over the hump at around $25 - $25.50. Wasn't all that long ago we were having trouble getting over a hump at $17.50 and at one stage got set back to $15.70 or so, for no particular reason that was obvious.

    This fall seems part of that "one step forward, two steps back pattern"............
    On 11/12/20 the high was $23.27
    On 15/12/20 the low was $21.02.... an approx 9.6% fall.

    On 21/12/20 the share was up to a high of $24.08.... an approx 14.5% rise.

    On 31/12/20 the low was $23.43 (same as today)

    On 08/01/21 the high was $26.40, a rise of 12.6% or so in a week.

    Todays low of $23.43 is a fall of around 11.3% from the high of a few weeks ago and a retreat from the hump in the low $25's area.
    Encouragingly there was strong support at the low today and that's a second bounce from that low within a month.

 
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