Potential Sell Alert

FMG – Fortescue Metals Group

It looks like the buyers are bailing on FMG as it struggles to hold above 5.00. The whole number level is a bit of a line in the sand as if it breaks, then we expect a push down to 3.50 with only the 4.00 potentially providing a few buyers. The pressure is on and only time will tell whether price can hold but there is a lot of work to do before buyers are convinced.

Stock Code : FMG – Fortescue Metals Group

Company Website : www.fmgl.com.au

Current Price : 5.04

Status : Moving lower as sellers are in control