I have updated my weekly price movement chart. Unfortunately for the shorters such as Sladen and co., the uptrend still seems to be in place according to the weekly price movements.
The analysis shows that we haven't had a negative week since 21 December 2018. Whilst last week shows a negative week of 3.7%, if you add back 30 cents to the share price for ex dividend on Thursday (adjusted share price $6.28 at COB Friday), we actually had another positive share price movement of 1.13% i.e. we still have not had a negative share price week since the start of this year.
You would expect share price to come under some selling pressure after losing such a large dividend, but I think it has held up quite well. With Vale's new penalties, Dalian up, Iron Ore price up, shorter's forced to close out positions, Franky back on HC etc. I think next week we will see another increase in share price movement for FMG.
Iron ore price, page-10674
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Last
$17.50 |
Change
0.840(5.04%) |
Mkt cap ! $53.88B | |||
| Open | High | Low | Value | Volume |
| $16.89 | $17.74 | $16.84 | $346.2M | 19.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5870 | $17.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.50 | 12148 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |