FMG 1.00% $17.32 fortescue ltd

FMG Technical Analysis, page-7143

  1. 9,963 Posts.
    lightbulb Created with Sketch. 4310
    I guess he thinks the tooth fairy is real then.
    its below 17.80 now
    Its a crash not a correction, down 34% from the highs of 26.00 that I called.

    With the impending divy collapse, lowering IOP, increasing debt & H gas/dam water stopped,
    there will be Short bearish impetus,
    Once that divy gets slashed & FCf gets cut to a third there will be a relaisation of what the market already has realised & what I have been warning of on here since 7 Jasn first top at 26 that i called.

    In June on here I mentioned the similar RIO Africa experience that ended up as a $10B loss and the CEO Albanese was sacked. It was a sign of a top and management disconnected from the core business which is local IO production & export. It was a signal for here too.

    Did you say under 10.00, woah.
    I still think that ledge at 15-17 is the first pivot support target.
    That may hold. But they will have to take action & stop the capex bleeding & slash the divy & forced to accept more debt now.

    Shorts in charge.
    Shoulda taken the money at 26 like I said toombs.

    Yes Virgina there is a tooth fairy according to PB.
 
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Last
$17.32
Change
-0.175(1.00%)
Mkt cap ! $53.29B
Open High Low Value Volume
$17.56 $17.84 $17.21 $107.5M 6.132M

Buyers (Bids)

No. Vol. Price($)
18 14981 $17.31
 

Sellers (Offers)

Price($) Vol. No.
$17.32 4544 26
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Last trade - 14.22pm 18/09/2024 (20 minute delay) ?
FMG (ASX) Chart
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