FMG 5.53% $20.14 fortescue ltd

no Annual & interim highs have been Aug/Sept & Feb Annual &...

  1. 2,060 Posts.
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    no
    Annual & interim highs have been Aug/Sept & Feb
    Annual & interim lows have been mid May mid June & Nov/Dec

    Look at the 2 year chart.

    The higher it goes the more leeway it has to the lows mid may mid June which still has 1-2 months to go.

    I called the 5.30-4.30 drop recently of $1 as this was the prior low to high ranges 2 years in a row $2.35 1.35 then 1.00 (5.30-4.30) with decreasing range now hence why I thought it may go to 4.00 if the last range complied of $1.30 top to bottom but I said it may be less than that say $1.00 and thats so far whats happened.

    4.30 showed very strong support and high volume and the sign is that the reversal would be there, if the shorting INSTOs cannot get it lower then they turn and cover and go long until it cannot go higher rinse and repeat for 3 years now.
    FMG is an INSTO controlled trading stock and they run it up and down in short term ranges.

    As that trading gap tightens to under $1.00 then we may see a run up higher in a classic higher low higher high bullish chart but its nowhere near 5.30 interim highs yet.

    Right now we are in the low bear range so may reverse back down to 4.30 or reconnect to that 4.65 prior low range level. The former is likely so I am not a buyer here until after mid June & the bullish confirmation all clear is obvious.
 
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Last
$20.14
Change
-1.180(5.53%)
Mkt cap ! $62.01B
Open High Low Value Volume
$20.65 $20.83 $20.02 $262.9M 12.91M

Buyers (Bids)

No. Vol. Price($)
1 1250 $20.14
 

Sellers (Offers)

Price($) Vol. No.
$20.15 2500 1
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Last trade - 16.10pm 25/07/2024 (20 minute delay) ?
FMG (ASX) Chart
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