FMG 1.29% $24.37 fortescue ltd

FMG Technical Analysis, page-230

  1. 2,060 Posts.
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    red doji pattern today with 4c wick 2c tail

    The ledge of 5.00 support is looking like its crumbling, the short interest is too strong and too many. 4.90-5.00 is the support then 4.65 annual lows.

    Who was it that predicted 6.50 by 22 Sept?
    LOL!
    Who was it that predicted 5.50 then 5.00 by 22 Sept/Dec = me

    Now I am trying to predict the annual low and rebound point, I said before the lows would be 3.00-4.50 then I changed to say 4.00-4.65 as I thought 4.65 would return again. Now Im watching to see if that does happen as it looks odds on atm that FMG will go under 5.00 toward 4.65 again but then rebound on the next dividend runup Jan.

    The shorts want to take this lower before the next divy ramp. So expect lower next 8 weeks until December/Jan ramping season as usual.
 
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