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3.23%

$18.87 fortescue ltd

thx for yours and everyones thoughts . Although every decision...

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foulie

425 Posts.

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13/02/17

21:09

Post #: 22581230
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Originally posted by insaf ↑

It's about conviction in the movement in both the iron ore futures and the fmg sp. Both had reached a point especially io futures, where there is technical breakout in the TA and the FA sentiment is turning from an iron ore correction to price support in the near future. Slowly but steadily the. Analysts are turning to positive sentiment in recognising this iron ore rally and upgrading forecasts. On the fmg side of the equation we have a very heavily shorted stock that is having caps placed on it to enable covering. The TA is approving previous highs, which have been rejected twice and hence means traders will wait to see price reaction near the 7 range before piling in. It also gives the shorters an opportunity to use this hesitation to keep the sp from rising like other io stocks. This will change if we close or move into7c. This is when the fun will start as traders, shorters and latecomers waiting for confirmation will jostle for position. This is a congested zone but clear 7 and moves in the sp will be rapid.

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thx for yours and everyones thoughts . Although every decision is my own this was the sort of discussions that went on when i first joined HC many years ago. It just gives everyone something to think about

FMG Price at posting: $6.88 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $18.87		Change 0.590(3.23%)		Mkt cap ! $58.10B

Open	High	Low	Value	Volume
$18.86	$18.90	$18.44	$375.1M	19.96M

Buyers (Bids)

No.	Vol.	Price($)
1	900	$18.86

Sellers (Offers)

Price($)	Vol.	No.
$18.88	3586	4

View Market Depth

No.	Vol.	Price($)
1	900	18.860
1	33	18.800
1	969	18.790
2	412	18.760
20	17103	18.750

Price($)	Vol.	No.
18.880	3586	4
18.890	9058	9
18.900	36211	15
18.930	4444	2
18.940	15238	3

Last trade - 16.10pm 31/07/2024 (20 minute delay)

FMG (ASX) Chart