UBS putting a buy on FMG would be a 1st for UBS in my memory.
..and I think you would be right. Sometimes its a bit scary when long time bears change their spots, and there has been a lot of that with FMG recently!
Macas were negative for a very long time too. They all have powerful influence on the price, so we can't ignore them even when we disagree with their ideas.
When the market gets going as is now happening, its tempting to sell too early.
Its easy to make a case for a pullback, but it was easy at $2 too. I certainly don't have any idea where it will happen. Probably not today.
rbs research note, page-23
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 (20min delay)
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Last
$18.28 |
Change
-2.070(10.2%) |
Mkt cap ! $56.28B | |||
| Open | High | Low | Value | Volume |
| $18.59 | $18.68 | $18.26 | $482.3M | 26.08M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 8480 | $18.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 300 | 1 |
View Market Depth
| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |