FMG - Fortescue Ltd

[tech/a]

Next resistance is at about the 16.50 mark.

You mean Support?

Nothing much to see here in FMG.
Worth sticking in the knife draw.

 

[over9k]

You mean Support?

Nothing much to see here in FMG.
Worth sticking in the knife draw.

Yes. Derp.

 

[basilio]

I think the next big stories from FMG will be

1) Where does the price and volume of iron ore sales stabilise? Will it be $140, 120, 100, $80 a tonne? Or will it drop far lower ? Then do the calculations on net profit with the new prices.

2) Firm announcements on big renewable energy projects. They have many irons in the fire. Concrete contracts and an outline of potential profits from such projects will cause a reappraisal of risk and return.

 

[DrBourse]

FMG - Well "Shock & Horror" The CCI on FMG has given us an early morning 2nd Signal, AND the MFI has given a Very Weak Change of direction - Only 3 more Entry Signals to go before this may become a trade - HOWEVER, FMG could still go either way, that's why we need the remaining 3 CCI Signals and more +ive signal from the MFI.
View attachment 130002

4.30pm Thursday 9/9/21 - The CCI, although still showing a +ive Uptrend for FMG, did not give any additional signals today – the MFI continued it’s ST downward trend.

 

[DrBourse]

4.30pm Thursday 9/9/21 - The CCI, although still showing a +ive Uptrend for FMG, did not give any additional signals today – the MFI continued it’s ST downward trend.
View attachment 130095

5.18am Friday 10/9/21 And Overnight the US FSUGY (ADR) CCI is showing improvement and is giving our CCI the lead for todays trade here in Aust - while the US FSUGY (ADR) MFI is obviously still in a ST Downtrend.

 

[DrBourse]

10.30am Friday 10/9/21 Todays CCI on FMG has (at this early stage of the day) given us the 2nd & 3rd signals, ie crossing up through the -100 Oversold Line, and WMA.

And the MFI has begun to rise again. – The obvious Q is “will it continue to rise?”, tomorrow will tell. And if it does continue to rise the SP has to contend with the Gaps Minor & Major Resistance Lines.

 

[tech/a]

Lovely.
So is it a Buy ,Sell, Add or Procrastinate?

 

[DrBourse]

Why the Agro and uneducated comments, Dunno if I want to continue with this saga.

Patience young lad, take a deep breath.

What would you do Huh

 

[waterbottle]

Patience young lad, take a deep breath.
What would you do Huh

Probably wait given the downtrend for iron ore prices, expectation of increasing brazilian iron ore output and continued suppression of Chinese steel output. That's a recipe for a sustained down trend IMO

 

[tech/a]

My position on FMG is un changed from my first post on it
I see no reason at this stage to change it

 

[DrBourse]

Bingo waterbottle !

t/a that's pretty much limited thinking - we should all be open to every opportunity that may present itself.

 

[againsthegrain]

one of the directors bought a whopping $5.9k of shares yesterday.. not sure if that is a show of confidence or perhaps the opposite

 

[DrBourse]

one of the directors bought a whopping $5.9k of shares yesterday.. not sure if that is a show of confidence or perhaps the opposite

don't let t/a know abt that

 

[waterbottle]

one of the directors bought a whopping $5.9k of shares yesterday.. not sure if that is a show of confidence or perhaps the opposite

Like a waterbottle to a bushfire

 

[basilio]

One thing I would be interested in due course is how far Twiggy and other directors took part in the dividend re investment plans.

Twiggy has around 1.3Billion shares already and always seems keen to increase his holding. I struggle to see what he will do with almost $2.8 billion cash from his last dividend payout. Curious to know.

 

[tech/a]

Why the Agro and uneducated comments, Dunno if I want to continue with this saga.

Patience young lad, take a deep breath.

What would you do Huh

Would you mind pointing out the Agro in my post?

To be honest commenting on every wiggle in your oscillators with baited breath is basic beginners stuff.

 

[Value Collector]

One thing I would be interested in due course is how far Twiggy and other directors took part in the dividend re investment plans.

Twiggy has around 1.3Billion shares already and always seems keen to increase his holding. I struggle to see what he will do with almost $2.8 billion cash from his last dividend payout. Curious to know.

Also, another interesting point about FMG reinvestment plan is that the shares issued are purchased on market, not newly created shares like some companies which create dilution.

 

[basilio]

Also, another interesting point about FMG reinvestment plan is that the shares issued are purchased on market, not newly created shares like some companies which create dilution.

That is interesting. I'm wondering how that is achieved and also how many shares are in effect bought back.

I'm aware they have had provision to buy back shares but Is there any notification of how many shares have been effectively transferred through the div reinvestment program ?

 

[DrBourse]

Hi Grey, agree with the $18.00, that line (or a bit lower), is very interesting as FMG's IV is abt $23 atm - for me, Candles & a ST CCI indicator will call the tune at that level.
Would love to get back in ASAP, I feel that the "Double Top & the $12 call" is a bit "out of the ball park."

As mentioned in my previous posts, was never going to get involved like this again, so this is an experiment.
CYA

Grey, I was right, should not have continued this FMG blow by blow experiment/explanation on how to trade using Indicators - That's it, No more, this is not the right environment for me to post anything I have to offer.
My apologies Joe & Skate.

 

[Go Figure]

one of the directors bought a whopping $5.9k of shares yesterday.. not sure if that is a show of confidence or perhaps the opposite

There are rules requiring all directors sales or purchases of shares be openly declared, this serves to maintain transparency for both the shareholders and the market in general. The director in question now holds 15,996 shares in FMG.