I do not believe in these candles, vases and flowers. The fundamentals are a better way to value the stocks. But I do look at the history to assist me to arrive to a correct valuation. So lets look at a bit of recent history from the charts. IOP picked around 01/07/19 being $124.00. The SP was around $9.00.( that was an good time to buy, but I missed that as I was not following FMG at the time). then it picked around 09/09/20 again being $125. The SP was around $17.00.( fair value) It was around $127 on 08/10/21 and the SP was around $14.00.( good value and I bought a lot). Today the the IOP is slightly lower at $120, but the SP is $20 +. I believe it's overpriced today. It may even run to $22+, but will come down after the next dividend. I believe it will come down by a lot more than the next dividend payment. All IMHO.
Iron ore price, page-42502
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Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B | |||
| Open | High | Low | Value | Volume |
| $17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $17.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.35 | 28897 | 5 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |