Stock Analysis FMG

FMG – Fortescue Metals Group Limited

FMG is under pressure today after an analyst downgrade sees sellers push price below key support. Price is looking extended but could easily capitulate down to 4.00 as buyers get squeezed out. We will be following the next few days to see if the weakness continues and price holds below support or if this move is just a weekly clean out of support.

Stock Code : FMG – Fortescue Metals Group Limited

Company Website : www.fmgl.com.au

Current Price : 4.40

Status : Watching price action for continued pressure from sellers