Tb,
The volumes on those few tops were not differ by much. 8/1/21 $26.40 6.6m, 25/3/21 $25.40 8.4m, 10/5/21 $24.82 15.3m,
15/7/21 $25.78 6.5m, 29/7/21 $26.58 6.9m.
In text books one of the defining factors for the multiple tops pattern is diminishing volumes, which was not present here.
My humble opinion is that the SP is significantly affected by the spot & future IO prices at the time of those tops. The IO price dropped from above $200 to sub $170 has curbed the ascending trend of most IO stocks, FMG is no exception. If IO spots & future prices bounce back up then so will the SP. FMG's fundamentals are good enough to attract yield seeking investors, which will support SP at a reasonable level.
Tb,The volumes on those few tops were not differ by much. 8/1/21...
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Last
$21.90 |
Change
0.040(0.18%) |
Mkt cap ! $67.42B | |||
| Open | High | Low | Value | Volume |
| $21.92 | $22.11 | $21.82 | $224.3M | 10.10M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3932 | $21.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.90 | 400 | 1 |
View Market Depth
| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |