Australia
FMG - Is it headed to $30 ?Fmg - looks like the uptrend is about to resume.
Key techinical - Inverse head and shoulders formation. FMG chart suggests it could be headed to $30. Resistance at $26. 20% upside.
Key fundamental - Iron ore prices at record highs to continue, resulting in record EPS ( big dividends ).
BHP - Bouncing off from key support after Head and Shoulder BHP formed Head and should pattern and broke the neck line on Aug 18. The stock has exactly fallen down $13.23 (measured distance from head to neck line) , which is right now bouncing off of the support line 52.45. I expect this stock to chop side ways for some more time hitting short term target 58.18, 59.82 and eventually break out to fill gaps at 64.48 and 70.52