Iron Ore entry price – getting close

The stock price of the Australian iron ore mining company, Fortescue (FMG.ASX) has just declined enough to register a weekly oversold reading for only the 7th moment in the past 20 years.

This is keeping with my recent expectations of lower iron ore prices.

I think there is a little more downside before my entry point is reached.

August 22, 2024

by Rob Zdravevski

rob@karriasset.com.au