There you have it, the resistance at 600
And in come the shorting sellers as usual with another expected false start pattern daily which gets sold down all day 600-593-589
That crackdown 595-588 today was very vicious and high volume with ChiX at 585 now, so ASX will likely follow as longs get scared off while shorts run the table.
On friday I said
I personally would not buy at these higher levels unless IOP rockets to 100 like last time or the whole debt gets paid down as this is a dividend driven ramp... the easy money has been made here
Looks headed back to 5.50 to finish the rounding top pattern on the monthly, could they really smash it that far, well look at the last year and the answer is yes, quite easily.
FMG Technical Analysis, page-66
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Last
$18.35 |
Change
-0.215(1.16%) |
Mkt cap ! $56.31B | |||
| Open | High | Low | Value | Volume |
| $18.70 | $18.72 | $18.21 | $82.78M | 4.483M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 1238 | $18.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.35 | 3358 | 10 |
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| Last trade - 13.52pm 30/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |