If you wanted to take a punt, it'd be hard to find a better-looking trade than:
- Buy FMG via CFD (see next point)
- Set a guaranteed stop loss just under the recent low at $19.
I am not sure how close a CFD provider will allow a guaranteed stop loss to be set, however.
The stock has had a big correction, on medium-term support at $19 and looks to be resting on short term support at $20.
Nice risk/reward trade in my opinion.
Iron ore price, page-29921
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Last
$21.61 |
Change
-0.430(1.95%) |
Mkt cap ! $66.50B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.75 | $21.48 | $124.3M | 5.561M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3 | $21.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.62 | 6355 | 19 |
View Market Depth
| Last trade - 13.58pm 19/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |