THE PRICE FALLING IS ALL THE MINING COMPANIES. FMG TAKES A BIGGER HIT AS ITS A PURE IRON ORE COMPANY.
THIS IS BEING OVER SOLD AND A BOUNCE BACK WILL HAPPEN.
FMG HAS A FOLLOWING OF SHORTER'S FROM WAY BACK . THEY ALWAYS JUMP IN.
THE FUNDAMENTALS AND FUTURE EARNINGS FOR FMG ARE GREAT.
PRICE OF I/0 CAN DROP FOR THE TIME AND HAS LITTLE AFFECT AS THEY HAVE BEEN MAKING CREAM AS OF LATE. AND THE PRICE IS EXPECTED TO FALL A BIT MORE BUT WILL BE BACK JUST WHEN FMG ARE AT MAX PRODUCTION IN MARCH. THEN YOU SEE THE CASH FLOW. EVEN AT 120 IN MARCH WITH THE EXTRA PRODUCTION THAT CHINA WILL TAKE AS THEIR OWN MINNING OD I/O IS ON ITS LAST LEGS.
AT 120 P/T CHINA HAS TO IMPORT MORE. SO THE PRICE REDUCTION IS BALANCE OUT BY VOLUME. ITS NOT ROCKET SCIENCE IS IT.
WHEN THEY BOUNCE BACK FMG WILL DO SO AT A FASTER RATE THAN THE OTHER TWO BEING BHP AND RIO.
THE SELL OF IS DUE TO PRESENT HIGHS BY THE MINERS AND SOME CONCERN OVER CHINA WHICH IS TOTALLY MISUNDERSTOOD AT THIS TIME. ASO SEASONAL PRICE DROP FROM AROUND 140 TO 130 P/T FOR I/O.
ALL WILL BE BACK ON SONG WITH A NEW HIGH SET. THE SHORTERS HAVE TO COVER SOON OR THEY LOOSE AGAIN AS THEY DID IN THE LAST RUN UP.
JUST BUY IF YOU SOLD OUT AS YOU WILL BE BACK IN THE GREEN SOON.
THE PRICE FALLING IS ALL THE MINING COMPANIES. FMG TAKES A...
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |