Monthly ...long, Weekly ... long, but our (S/T)Daily is clearly giving us some warning signals. Even though we are right at the neckline of a Potential H&S Pattern and we may get a bounce(couple of days) the classic H&S volume activity) suggests we should see lower prices from near here. Again, the break of the primary SpeedLine(top thick purple) on convincing vol also suggests a move towards the the next lower SpeedLines(intermediate or primary). Now the M/M for the H&S comes very close to the rising 200SMA, 50% retrace and is just above the rising next primary Speedline ($4.58 - $4.40)... so may be that's where FMG is heading over the next few weeks. Further warning signs will be a break below $5.22 and certainly below $5.10.
If the perceived near-term bounce in FMG breaks back above the top primary Speedline(and also back above the 34EMA ...currently $5.59)...which I doubt...then all Bearish bets are off(for this Chartist).
what does its chart tell us?
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Last
$20.14 |
Change
-1.180(5.53%) |
Mkt cap ! $62.01B | |||
| Open | High | Low | Value | Volume |
| $20.65 | $20.83 | $20.02 | $262.9M | 12.91M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1250 | $20.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 2500 | 1 |
View Market Depth
| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |