FMG 1.56% $16.56 fortescue ltd

closed as an even stronger bullish green bar 14c body 1c neck...

  1. 9,955 Posts.
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    closed as an even stronger bullish green bar
    14c body 1c neck 18c tail
    meaning closed near daily highs and the shorts arvo follies were smashed up in pieces.
    shorts going nowhere for 4 days straight

    a strong close despite IOP lower slightly.

    above the 14.00 triple bottom support area

    If we see 15.50 break to the upside then 18.00 area follows as before.
    This zigzag 14-16 area will have to break at some point.

    I think INSTOs market waiting for 1 November to pass that October crash seasonal scenario talked about
    Quite cheap compared to the 26.00 top from 7 Jan & July I called.
    Almost half price from there.

    IOP above 120 is still very bullish for FMG FCF & divy yields.
    Give us more production, more refining, more plants, more Io discoveries, more tenements, more ports, more EV & green tech, & SLASH the DEBT, then we could see a rerate!

    bottom is in imho.
 
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