Good article @spuza12, always enjoy reading an article where the analyst is prepared to put their balls on the line and make a strong call, either long or short.
Pretty hard for FMG not to participate in the strong rally we are seeing in BHP & RIO at the moment (although coming from oil, base and precious metals), there will always be investors looking for better value elsewhere. Looking forward to the upgrade cycle to continue for the producers off the back of strong quarterly numbers to be released next month.
Would like to see FMG close above $4.93 today, would signal that the next upswing is underway.
Good to see the short interest declining at current prices - https://www.shortman.com.au/stock?q=fmg
I think a push above $5 will see the short covering accelerate prior to the qtrly production numbers.
I would certainly like to double my position and average up at current prices, however am a little full at the moment, still digesting the pre xmas spending on market
Iron ore price, page-4905
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Last
$18.75 |
Change
-0.240(1.26%) |
Mkt cap ! $57.73B | |||
| Open | High | Low | Value | Volume |
| $18.53 | $18.75 | $18.44 | $216.3M | 11.60M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1990 | $18.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.76 | 47022 | 3 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |