Potential Buy Alert FMG

FMG – Fortescue Metals Group

FMG has held its ground in a very uncertain market and buyers are happy to step in today to support prices. We are now on watch for a buy entry setup off a minor higher low around 5.00. If all plays out then we will look to the 7.00 level for targets.

Stock Code : FMG – Fortescue Metals Group

Company Website : www.fmgl.com.au

Current Price : 5.15

Status : On watch for buy entry setup

Previous Alert 30/1/18

FMG – Fortescue Metals Group

FMG has had a positive quarterly production report released to market today which gave the price a nudge higher against the overall trend of the ASX200. We see the potential for a higher low to build as more buyers step in and soak up selling pressure at higher levels. If the higher low plays out then its all about the buy entry setup.

Stock Code : FMG – Fortescue Metals Group

Company Website : www.fmgl.com.au

Current Price : 5.16

Status : On watch for buy entry setup