FMG 2.65% $18.76 fortescue ltd

FMG Technical Analysis, page-717

  1. 2,060 Posts.
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    solid recovery to close at a neutral doji near its open and daily highs.

    strong volume buying support by INSTOs, looks like mid Feb is the usual divvy ramp high so may run to $5-$5.50 if equities or IOP dont crash again.

    IOP holding strong yet IO stocks collapsed in a heap today bar FMG.

    FMG looks to have a put option with its divvy right now. FMG is making a motza at an IOP of $74, divvy may beat on the upside thereby (13-16-20-25c) I said before 16c, may got to a 22c surprise and then sell off again to 4.65 lows like the last few seasons.
 
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