FMG 1.43% $22.04 fortescue ltd

resistance again at 22.70-23.00 area 3 times now in 8 days...

  1. 9,783 Posts.
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    resistance again at 22.70-23.00 area
    3 times now in 8 days
    closed as a higher red candle with -5c body 12c neck 22c tail
    still holding around high 22s
    still above 22.30 prior 2021 resistance area
    still above 2021 triple top highs
    the close was negative today.

    wait for mondays candle
    if lower thats another lower high and creates a peak at 22.95
    if higher may try to break 23 and form a higher high but that petered out today and on 12 jan
    IOP move will be critical to direction of the SP here.

    Momentum is waning here, BULL FATIGUE or BLOWOUT soon?
    BULL SEASON is still here another few weeks historically.

    We are at the 22-23 SELL ZONE and some are exiting as I suggested.
    A good return 15.00 -22.50 = 50% in 10 weeks

    Can this breakout or will it fallback?
    Monday Tuesday may tell us the direction.
 
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Last
$22.04
Change
-0.320(1.43%)
Mkt cap ! $67.86B
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$22.32 $22.41 $21.98 $158.0M 7.125M

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Last trade - 16.10pm 18/07/2024 (20 minute delay) ?
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