Fortescue Metals: as long as 18.17 is support look for 21.54Alternative scenario: the downside breakout of 18.17 would call for 17.2 and 16.29.
My pivot point stands at 18.17.
My preference: as long as 18.17 is support look for 21.54.
Comment:
The RSI is above its neutrality area at 50.
The MACD is positive and below its signal line.
The stock could retrace in the short term.
Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 18.88 and 16.89).
Trade Safe -
Jimster45
