more on Fortescue Metals

Here is an ongoing series of posts about Fortescue Metals (FMG.AX) and how it has traded at percentage extremes above it 200 week moving average. This helps tell you when chasing a stock higher becomes perilous in the face of a mean reversion, often when the tide and sentiment turns at its worst.

I don’t hate the stock nor the company. I’m just calling it as I see it.

For more than a year, FMG.AX has defied gravity.

If we see a break below $13.71, sees the stock visit $11.70 – $12.00, failing that it may test the $7.00 level.

Absurd perhaps but not impossible.

October 13, 2021

by Rob Zdravevski

rob@karriasset.com.au

#ironore #fmg