FMG 2.02% $25.70 fortescue ltd

I agree in a way here This chart shows a significant reason for...

  1. 3,924 Posts.
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    I agree in a way here

    This chart shows a significant reason for the FMG price rally could be covering of short interest...and not solely significant value buying.

    Now that short interest is at low levels, that buying interest will subside, and the market will need value buyers at these levels to maintain the price....i don't think instos will chase FMG here...the train is full

    Given a 200% rally this year...fueled by covering and some value buying, its fair to assume that this deviation in short int / price will need to come back a bit

    Given spot prices are via the majority of analysts to settle back in the 45/t 4th qtr the risk is to the downside in the stock

    I feel its a short sell back to $4-

    Good luck all
    Last edited by baukaw: 28/08/16
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Last
$25.70
Change
0.510(2.02%)
Mkt cap ! $79.12B
Open High Low Value Volume
$25.58 $25.78 $25.39 $142.5M 5.556M

Buyers (Bids)

No. Vol. Price($)
4 49920 $25.66
 

Sellers (Offers)

Price($) Vol. No.
$25.71 2818 2
View Market Depth
Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
Last
$25.73
  Change
0.510 ( 2.20 %)
Open High Low Volume
$25.57 $25.78 $25.39 738887
Last updated 15.59pm 28/03/2024 ?
FMG (ASX) Chart
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