FMG 1.26% $18.75 fortescue ltd

Weekly chart says a lot. Strong bounce off oversold levels and...

  1. 14,081 Posts.
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    Weekly chart says a lot. Strong bounce off oversold levels and MACD looking bullish for an incoming cross. EMA's beginning to reverse into a bullish mode.

    To me it needs confirmation that recent spike isn't a bull trap but certainly is looking good.

    Cheers.

    https://hotcopper.com.au/data/attachments/3792/3792395-4c8298d4fdb8cca846da188623cd9a60.jpg

    Certainly a nice breakout on the daily, first target would obviously be the gap at 17.20.

    https://hotcopper.com.au/data/attachments/3792/3792403-6bfc2a4c7c190d5bc52232bcc9fce448.jpg

 
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