Nice @frogbat
got the daily highs
today a green candle with 20c body 4c neck 7c tail
meaning its positive
but look at that flatline since 8 August - 19.00-19.60, in low ranges of 30c, barely moving with volatility low, its either a ramp higher or an escape offload ledge for all the INSTOs (the latter imho)
Also look at that lower high, now 4 in a row since 7 Feb witht his one unable to break 20.00 even, way lower than 22 or even 26 high last year.
Bearish chart look sorry, looks a topping out pattern.
Then theres the macro US equity crash coming Aug - 31 Oct imho
With hyper inflation globally and recession inevitable & rocketing interest rates killing profits and margins while wars boom globally everywhere, which will cause this crash.
bear season last few years for FMG SP was Aug - 31 Oct
World looks forward to the November sweepout of the US democrats in US congress leaving biden an old lame duck for 2 years so the equity crash will be before that imho.
Last year the crash was 1 Sept to 4 Oct then stayed down at 4 Oct & 1 Nov lows
Last year I called early Nov the bottom was in & a bullish, it then ran from 14 to 22 during bull season (Nov - Feb) as usual, I was SPOT ON!
This year the annual highs didnt happen in July instead a triple top at 22 in Feb April June-with lower highs and lower lows, a risky bearish chart pattern.
Once the US crash hits soon, we should see a bottom flooring pattern again.
Whats worrying here is that the highs were not that high this year (22 not 26) and SHORTS have been poppy cutting early and harder.
Beware the bull trap. Shorts are in charge.
- Forums
- ASX - By Stock
- FMG Technical Analysis
Nice @frogbat got the daily highs today a green candle with 20c...
- There are more pages in this discussion • 2,750 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
(20min delay)
|
|||||
Last
$24.12 |
Change
-0.200(0.82%) |
Mkt cap ! $74.26B |
Open | High | Low | Value | Volume |
$24.34 | $24.35 | $23.96 | $172.3M | 7.145M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | $24.10 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$24.12 | 84698 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 24.100 |
1 | 10000 | 24.060 |
1 | 2500 | 24.050 |
2 | 566 | 24.030 |
1 | 333 | 24.020 |
Price($) | Vol. | No. |
---|---|---|
24.120 | 34296 | 2 |
24.130 | 5464 | 1 |
24.140 | 1000 | 1 |
24.150 | 4926 | 1 |
24.160 | 4274 | 1 |
Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
|
|||||
Last
$23.99 |
  |
Change
-0.200 ( 1.52 %) |
|||
Open | High | Low | Volume | ||
$24.34 | $24.35 | $23.96 | 831019 | ||
Last updated 15.59pm 05/06/2024 ? |
Featured News
FMG (ASX) Chart |
The Watchlist
MGU
MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
MD
Previous Video
Next Video
SPONSORED BY The Market Online