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2 years ago

FMG Reporting update

From the 4Qtr update last week FMG has failed to follow through from the initial reaction.
The daily chart now shows the significant resistance level of $3.36
With the comments attached to the Weekly chart below, this is setting up a low risk short
with stops set at $2.37.

FMG

29/January/2015
FMG is providing an update today. 29/01/2015
With the Iron ore price approaching there cost price for delivery, the market is not buying any upside
with the continuing Weekly down trend.
The ultimate price target is $1.70 which is the late 2008 closing price low.
Daily trend is down, Weekly trend is down.

FMG Weekly