Potential Buy Alert FMG

FMG – Fortescue Metals Limited

FMG is showing better signs for buyers as we have seen a lot heat come out of the market the last year. We are seeing very early signs of buyers breaking price out of corrective action but there is still a lot of work to do as both the short and long term trends are stretched at current levels. For holders of FMG, it may be time to release your breath and watch for a higher low for evidence of buyers stepping in.

Stock Code : FMG – Fortescue Metals Limited

Company Website : www.fmgl.com.au

Current Price : 5.37

Status : On watch for buy entry setup