FMG 3.23% $18.87 fortescue ltd

FMG Technical Analysis, page-923

  1. 2,060 Posts.
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    another higher bar, 3 out of 4 days in a row but with that higher open at 4.45 it was red with 4c body 2c tail and 2c wick but closing 3c higher than yesterdays close.

    the monthly looks like a V rebound pattern and the annual chart shows a double V at $4.30 triennial lows.
    What the heck is FMG doing at 3 year lows with way lower debt & costs and way higher margins cash and cashflow with a stranglehold over AGO???

    The seasonal runup to Sept annual highs should now be in process to 5.00-6.00
    AGO is a paltry 14c equity impact with a 16c tax credit and 20c capital asset bonus so net positive.
 
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Last trade - 16.10pm 31/07/2024 (20 minute delay) ?
FMG (ASX) Chart
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