FORTESCUE LTD

- AUD (-)

- End-of-day data - Australia Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	FMG
ISIN:	AU000000FMG4

FORTESCUE LTD - Daily - Technical analysis published on 11/25/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 17.600 AUD

My targets

19.300 AUD (+6.69%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on FORTESCUE METALS GROUP LTD as long as the price remains well above 17.600 AUD. The buyers” bullish objective is set at 19.300 AUD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Simon1. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The FORTESCUE METALS GROUP LTD price is 18.090 AUD. The price registered an increase of +2.73% on the session with the lowest point at 17.680 AUD and the highest point at 18.150 AUD. The deviation from the price is +2.32% for the low point and -0.33% for the high point.

17.680

18.150

18.090

So that you have an overall view of the price change, here is a table showing the variations over several periods:

Technical

A technical analysis in Daily of this FORTESCUE METALS GROUP LTD chart shows a strongly bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Daily

Ichimoku : price is over the cloud

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Williams %R indicator is back over -50

Type : Bullish

Timeframe : Daily

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

Resistance of triangle is broken

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	14.968	15.860	17.600	18.090	19.300
Change (%)	-17.26%	-12.33%	-2.71%	-	+6.69%
Change	-3.122	-2.230	-0.490	-	+1.210
Level	Minor	Major	Intermediate	-	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	16.153	16.637	17.123	17.607	18.093	18.577	19.063
Camarilla	17.343	17.432	17.521	17.610	17.699	17.788	17.877
Woodie	16.155	16.638	17.125	17.608	18.095	18.578	19.065
Fibonacci	16.637	17.007	17.236	17.607	17.977	18.206	18.577

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	16.290	16.490	16.720	16.920	17.150	17.350	17.580
Camarilla	16.832	16.871	16.911	16.950	16.989	17.029	17.068
Woodie	16.305	16.498	16.735	16.928	17.165	17.358	17.595
Fibonacci	16.490	16.654	16.756	16.920	17.084	17.186	17.350

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	14.913	15.467	16.418	16.972	17.923	18.477	19.428
Camarilla	16.956	17.094	17.232	17.370	17.508	17.646	17.784
Woodie	15.113	15.566	16.618	17.071	18.123	18.576	19.628
Fibonacci	15.467	16.042	16.397	16.972	17.547	17.902	18.477

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	64.50
MACD (12,26,9):	0.1650
Directional Movement:	15.822
AROON (14):	100.000
DEMA (21):	17.242
Parabolic SAR (0,02-0,02-0,2):	16.938
Elder Ray (13):	0.750
Super Trend (3,10):	16.435
Zig ZAG (10):	18.090
VORTEX (21):	1.0060
Stochastique (14,3,5):	69.43
TEMA (21):	17.406
Williams %R (14):	-3.53
Chande Momentum Oscillator (20):	1.540
Repulse (5,40,3):	2.4970
ROCnROLL:	1
TRIX (15,9):	0.0660
Courbe Coppock:	3.94

MA7:	17.177
MA20:	17.025
MA50:	16.710
MA100:	17.061
MAexp7:	17.342
MAexp20:	17.067
MAexp50:	16.921
MAexp100:	16.414
Price / MA7:	+5.32%
Price / MA20:	+6.26%
Price / MA50:	+8.26%
Price / MA100:	+6.03%
Price / MAexp7:	+4.31%
Price / MAexp20:	+5.99%
Price / MAexp50:	+6.91%
Price / MAexp100:	+10.21%

Quotes : 2020-11-24 00:00:00 - End-of-day data - Australia Stocks

News

The last news published on FORTESCUE METALS GROUP LTD at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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