FMG - Inverted Head & Shoulder Looking quite a clean setup with a continued trend line to intersect at end - and Fibonaacci just happens to be in that right place too...perhaps
FMG trade ideas
FMG - Road MapFMG had been in a very nice uptrend in 2020, but the recent price action of Lower Highs and Lower Lows suggest that the trend may have weakened and it may find resistance between $24.00 and $25.00 level, and head lower. I think we may see a decent retracement lower ideally between the 50% and 61.8% Fib Retracement, between $14.00 and $15.50. I would be cautious at the current levels and wait for a pullback to enter a buy position.
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
Looking like a good Entry...Three trend lines pointing to the same place and the 200ma (white) just happens to intersect as well - thanks 'Harly Trades' for reminding me to check it..
P-plater observation - not financial advice :)
[EW] ASX:FMG correction nearing completionHi everyone
FMG has been in a minute degree correction since 7-8th Jan, it played out as a running flat (?). Seen a few of these across various charts and they're supposed to be rare lol.
Anyway, all the necessary internal waves seem to have played out which given the high degree .618 point of 18.82 leads me to believe this micro fifth will truncate, and begin the minute fifth.
We will see very shortly!
NFA, DYOR
FMG LongAfter Long Bullish run FMG has came back Down to 200EMA. FMG is right on support and jumping from 200EMA. plus its making M pattern or u can call butterfly pattern . FMG is very good long term stock. Not Recommendation.
FMGLate chart for ASX listed Iron ore darling company.
Long term hold dividend payer.
Infrastructure boom over the next decade?
Countries rebuilding through construction initiatives?
Electric vehicles still along way off?
Massive ROIC and FCF
FMG under correction take advantage of buying at point D (around 22 AUD).
the ASX:FMG has a potential to reach the AUD 26 next.
Fortescue getting into the Hydrogen businessI've been reading about Fortescue and hydrogen for a while now, and on the back of their already amazing Iron Ore run I think this will be yet another possibly even more important catalyst that should keep the FMG engine running even harder. It has had a nice pullback to support after its last run and with the RSI beginning its rise again, I think anything around the $25 mark is probably good value again. Worth a good look at any rate.
Not convinced about Hydrogen? Have a look at these two purer hydrogen plays for fun.
HZR:ASX
PLUG:NASDAQ
FMG long after breakout of recent highEntry: 24.71
Stop loss: 23.30
Entered a position in the counter after it broke out with increasing volume from its recent high.
Even if it looks extended on the weekly chart.
Go Long on Mining Stocks $FMGTime to go long on Mining stocks. $RIO $BHP and $FMG all have bullish chart patterns in play for next month and early 2021.
it will continue to decline next days !FMG Will Continue to decline next days
To 14.30 AUD
StoopLoss 18.00 AUD
FMG Turning Around. It was a phenomenal impulse. But now, it is time to come back to reality on Fortescue. NFA
FMG approaches critical resistance around 16.90We might see some resistance around 16.90, a critical level as per previous trading activities. Share prices bounced from a strong support level at 15.75 but were challenged many times around 16.90 and could go through the same deal this time around.
I think the critical price levels to watch are at approximately 16.90 and 17.34. A break above 17.34 could see prices head towards a short term target at 18.50.
The critical support levels are at 16.63, 16.20, and 15.75. Resistance at 16.90, 17.35, 17.61, 18.05, and 18.50.
The current critical support and resistance estimates on the price chart are based on my indicator, predicting future price movements based on price action.
Head and shoulders formingFortescue Metals Group FMG on the ASX appears to have a head and shoulders formation forming after going ex-dividend. It should break and continue north early October.
FMG - Major support and resistance level M15 time frameFMG - Major support and resistance level M15 time frame
Support at 18.95, 18.65, 18.45, and 18.15
Resistance at 19.14, 19.44, 19.63, and 19.95
(simple TA) FMG didn't break support (1hr)Even with the BLOOD BATH that was last week, FMG didn't break this support trendline beginning may 4th on the 1hr chart.
FMG simple technical analysisASX:FMG Great company quite bullish pattern. PT marked on the chart
Good luck mates, don't miss the train!
