FMG 0.98% $15.51 fortescue metals group ltd

FMG Technical Analysis

  1. 2,060 Posts.
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    Beautiful dragonfly doji with long tail and small head today at the 4 month bear run lows after a rounding top pattern formed since September
    This signals a possible bullish reversal trend in future.
    the shorting to 4.55 got smashed intraday as the IO price surged back higher yet it closed where it opened 4.72/4.73
    The runover to 4.83 also got cut off like tall poppys today.

    But where are these false start daily patterns used by the shorters to kill the stock yet again?

    The closer one looks at FMG trading patterns the more one sees the Instos & shorters are in control of the daily stock moves. The last few weeks it has been looking like some have broken ranks to buy long but others are relentless in shorting it but they got burnt today.

    The chart pattern tells us that -

    "As you might have guessed from their opposing structures, Dragonfly and Gravestone Doji also have opposing implications. The Dragonfly is bullish, while the Gravestone is bearish.
    A Dragonfly Doji conveys that the price opened at the high of the time period. There was a great decline during the session, and then the price closed at the high of the session. So the open, high, and close are all the same (or about the same) price. This signal’s presence is most significant when it appears after a downtrend, preceded by bearish candlesticks. It suggests that the trend’s downward direction may soon reach a turning point."

    Any TA experts around. Who agrees with this? Or am I seeing something not there yet?
    Last edited by Samboy69: 08/06/17
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Mkt cap ! $47.75B
Open High Low Value Volume
$15.34 $15.56 $15.22 $133.4M 8.644M

Buyers (Bids)

No. Vol. Price($)
5 98267 $15.50

Sellers (Offers)

Price($) Vol. No.
$15.53 5000 1
View Market Depth
Last trade - 16.10pm 14/07/2020 (20 minute delay) ?
0.150 ( 0.87 %)
Open High Low Volume
$15.32 $15.57 $15.23 2630801
Last updated 15.59pm 14/07/2020 (live) ?
FMG (ASX) Chart
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