FMG 2.02% $25.70 fortescue ltd

Stunning intraday reversal. A U shape comeback to close at 3.79...

  1. 2,060 Posts.
    lightbulb Created with Sketch. 1393
    Stunning intraday reversal.
    A U shape comeback to close at 3.79 yesterdays close, close near daily highs
    Daily candle is a lower candle with 2c green body 2c wick and long 6c tail.
    Volume triple the normal, 32M shares ~$100M value, very large, loads of INSTOs involved today,
    Its a dragonfly hammer type candle
    meaning a bullish reversal pattern near 4 year lows at a ledge pivot point, the sellers were beaten and overshot by buyers today.

    Shorts were smashed and got sucked in intraday into the drop and then had to cover back higher as the shorts got pulled in the bullish rising arvo.
    Monthly chart shows a definite ledge formed after that cliff face from 4.50 hit the ledge at 3.60.
    Last 2 weeks have burnt the shorts badly, after today surely they will go long as that buying volume looks unbeatable,

    Burn those red shorts, BURN!
    upload_2018-9-20_17-39-39.jpeg
    Last edited by Samboy69: 20/09/18
 
watchlist Created with Sketch. Add FMG (ASX) to my watchlist
(20min delay)
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
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.