Potential Buy Entry Alert to Watch FMG

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $12.67 Billion Market Cap, VWAP 4.082, ASX Ranking 30, 4 Week Av Turnover $65,494,206, Current Turnover (Intraday as at time of alert) $4,206,093, PE 10.7, Div Yield 5.65%.

Company Overview : Fortescue Metals Group Ltd (FMG) is an iron ore production and exploration company with assets located in the Pilbara regionof Western Australia.

Broker Consensus : HOLD/BUY

FMG – Fortescue Metals Group Limited

FMG is showing signs of life for buyers as price starts to poke its head up out of contraction. We are now watching for further evidence that buyers are happy to support the price. Some work still to do as the longer term charts and buyers are yet to be convinced.

Stock Code : FMG – Fortescue Metals Group Limited

Company Website : www.fmgl.com.au

Current Price : 4.12

Status : On watch for buy entry setup