FMG trade ideas
Head and ShoulderNeeds to range a bit more and hit the yellow and purple line at the same time, where the green is drawn.
$FMG Fortescue Metals, what are you going to do? Are we going to finally break $11.00 with volume or are we heading back lower?
Go buying opportunity if we can next week because it would be a green 2 over a green 1 over a 9. (According to TD Sequentials, this is bullish)
FMG euphoria buyer strength starting to fade, thin orderflow within candles bars are telling the story, higher time framr picture sets the stage,albeit could stall here or react!? . if l get short l'd need good clear PA and its retest to show whales are here. before l join in.
$FMG - FORTESCUE METALS - New all time high on breakoutFORTESCUE METALS - New all time high on breakout
Fortescue has been a strong performer this year with Australia’s iron ore export earnings also forecast to soar to the second highest level on record this financial year bolstered by supply disruptions in Brazil after the tailings dam collapse. Fortescue rallied up hard before momentum fell away at the end of February and most of March. Some interesting volume has come through and indicators have started to turn up again so might be a good time to enter or top up if it opens up on Monday. Added bonus is it has also pushed through the $7.00 psychological barrier so will hopefully start to build a base there and continue its run.
About Fortescue Metals Group
Fortescue Metals Group Limited is engaged in the exploration, development, production, processing and sale of iron ore. It owns and operates an integrated supply chain, including its approximately five berth Herb Elliott Port in Port Hedland and the heavy haul railway with approximately 42 ton axle load capacity over 620 kilometers of track. Its operations span over four mine sites in the Pilbara. The Chichester Hub, which includes the Cloudbreak and Christmas Creek mines, is located in the Chichester Ranges, and produces over 90 million tons per annum (mtpa) from three ore processing facilities. The Solomon Hub is located in the Hamersley Ranges, and includes the Firetail and Kings Valley mines, which produce in excess of 70 mtpa. The Company owns and operates its purpose designed rail and port facilities, constructed to deliver iron ore from its mines to Port Hedland and onto its customers. Its Iron Bridge Magnetite project is located over 100 kilometers south of Port Hedland.
My Indicator Entry Rules (needs to meet all):
Price > EMA(9) (Trending up short term)
EMA(9) > EMA(21) (Trending up short to medium term)
Volume > Volume(30) (Others have become more interested in the stock)
RSI(14) > 50 but < 80 (Has momentum but not overbought yet)
OBV > EMA (30, OBV) (Volume is accelerating)
ADX(14) > 25 (Strong momentum in the trend direction)
My Just Before I Buy Rules:
Check all or most indicators are pointing up to confirm their direction
Wait for price to move up > 2% (Headed in the right direction today)
I'll check market depth to ensure lots of buyers and sellers at close price points to ensure demand and liquidity (ie I can get out quickly if I need to)
I'll check for any company announcements to see whats driving the volume
My Indicator Warnings:
RSI(14) < 40 (Interest falling)
RSI(14) > 80 (Very overbought territory - may reverse)
OBV < EMA (30, OBV) (Volume falling away, people losing interest at this price)
My Sell Rules:
Trailing Stop at 1.5 to 2 x ATR (Depends how aggressive I want to be - means trend has ended for now)
OR if
EMA(9) < EMA (21) (Trend has failed for now)
FMG - Precious metals over growing fiat inflation?Hey guys welcome to my second chart this week. If your liking the charts so far show some support and give me a follow. Likes and comments are also appreciated.
At first glance we have an overall bullish bias with trends clearly in favour of the bulls. Diving deeper into FMG we can see we have had a typical reversal with a sell off. accumulation. breakout. retest (with a strong reaction) and finally the recent breakout of its previous resistance. Strong volume and general interest from ETF funds have me giving FMG a medium Buy signal over the short term. However buy with caution and time your entries this stock has been in a long bullish trend with make for it extremely hard to predict. That being said over the next few weeks I believe we will challenge FMG's all time high and short terms targets are listed on the chart.
Breakouts generally happen after the accumulation phase. Its consist of large volume breaking through what was consider strong resistance (where most retail traders place stop lost) The liquidation of these stop losses result in upward or downward momentum converting what was resistance or support into into support or resistance. Having a good understanding of this phase creates excellent opportunities for retail traders with high probability trades.
$FMG - long term breakoutSP has broken through the long term resistance on the daily once again. Volume isn't that convincing though but I'd like to see this push through, then if it retraces, bounce off the new support (old resistance).
Fortescue Metal Group FMG: ASX - Potential price support at 8.10FMG share prices trade at 8.35 at the time of reporting after bouching at 8.10 support in the previous session. Share prices have created a long term price channel to the upside after bouncing at 8.10. A price break to the upside at 8.35, could lead to 8.70 price target. Share prices could retest 8.10 support if it fails at 8.35.
Support: 8.10, 7.80, 7.45
Resistance: 8.35, 8.70, and 9.00
Hey Twiggy, lets make a steal! late fomos were enticed above while those exhausted longs above have now been burned in the furnace, resulting in a healthy deep pullback into area of interest, bounce occurred, now it's time to see if retest has bullish tone and if it still presents discount prices?!
long if and when PA presents itself if not
scrape it!
FMG monthly is looking very solidnot sure and don't care why, but this looks like its finishing up consolidating and ready for its next move up.
Fortescue aLong on break above golden pocket Fortescue Metals Group Ltd. engages in the development of iron ore deposits. It operates through the China and Other geographical segments. Its projects include Chichester Hub, Solomon Hub, Port Hedland, Eliwana, Iron Bridgen and copper-gold exploration. The company was founded by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia.
Fortescue Metals reveals bullish signals. Optimism in the future of worldwide trade and resolution between China and USA has helped raise the fortunes of Fortescue metals recently.
Fortescue Metals Group Ltd. engages in the development of iron ore deposits. It operates through the China and Other geographical segments. Its projects include Chichester Hub, Solomon Hub, Port Hedland, Eliwana, Iron Bridgen and copper-gold exploration. The company was founded by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia.
FMG - FY19 Net Profit US$3.19 Billion, Up 263% On-YearFortescue Metals share prices fell in today's trading session did not really reflect its profit update, 3.30% to 7.32 due to a fall in the commodity index down 2.25% from time of reporting. Share prices seem to be holding on to its support level at 7.30; however, share prices could fall further to 7.00 if it fails at 7.30. If it holds at 7.30, we might see an attempt to fill the price gap at 7.60
Short it to the fib levels! FMG shares AustraliaHi guys its bokchoininja here with another fibonacci analysis. In this analysis I highlight three critical zones of support and resistance predicted by good old fibonacci ratios. We had a nice kiss on the 1.618 level and are struggling to break past the current resistance zone. If we do break past we are headed upwards but the resistance box is where i have my buy orders. Check out my youtube for more info AweeboneshTV :D.
Loosing momentumUpside seems limited but 8.60 is current support.
Risk of iron ore prices and Vale coming on line remain.
But Ziggy has offered big dividend surprises recently and with low interest rates, dividends are king.
Continuing to take shorts. Looking for 7.60.
Buy FMG Due to oversees market the ASX 200 should be opening higher this morning, this is why i'm looking to buy FMG. It had a nice pull back to the 20 ema with the confirmation with the fib levels as well.
$FMG $6.06 per requestNot for me.
Has been under a buyback for sometime which messes things (volum) up ALOT... now for the shakeout
Depending on hope far they push it,it may become appealing but not at the moment. Well not for me
Short FMGFMG has hit 52 week high, new monthly high and above the RSI. it's last candle is a bearish doji just outside it's 2 standard deviation, this look good for a counter trend trade then I will buy at pull back.
FMG new flag pole breakout to yearly highs on large volumeOutperforming the indexes and breaking to new yearly highs. bullish bias
