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 12/06/2020 (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

83%

11%

My opinion

Bullish above 19.300 AUD

My targets

21.823 AUD (+5.89%)

My analysis

FORTESCUE METALS GROUP LTD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 19.300 AUD. The next resistance located at 21.823 AUD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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 20.610 AUD. The price registered a decrease of -0.19% on the session and was traded between 20.400 AUD and 20.695 AUD over the period. The price is currently at +1.03% from its lowest and -0.41% from its highest.

20.400

20.695

20.610

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

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 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 15 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

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 2

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Resistance of channel 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
ProTrendLines	16.210	17.600	19.300	20.610
Change (%)	-21.35%	-14.60%	-6.36%	-
Change	-4.400	-3.010	-1.310	-
Level	Major	Intermediate	Major	-

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	17.473	17.777	18.003	18.307	18.533	18.837	19.063
Camarilla	18.084	18.133	18.181	18.230	18.279	18.327	18.376
Woodie	17.435	17.758	17.965	18.288	18.495	18.818	19.025
Fibonacci	17.777	17.979	18.104	18.307	18.509	18.634	18.837

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	15.980	16.550	17.560	18.130	19.140	19.710	20.720
Camarilla	18.136	18.280	18.425	18.570	18.715	18.860	19.005
Woodie	16.200	16.660	17.780	18.240	19.360	19.820	20.940
Fibonacci	16.550	17.154	17.526	18.130	18.734	19.106	19.710

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	14.203	15.257	16.743	17.797	19.283	20.337	21.823
Camarilla	17.532	17.764	17.997	18.230	18.463	18.696	18.929
Woodie	14.420	15.365	16.960	17.905	19.500	20.445	22.040
Fibonacci	15.257	16.227	16.826	17.797	18.767	19.366	20.337

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):	77.83
MACD (12,26,9):	0.5960
Directional Movement:	30.970
AROON (14):	100.000
DEMA (21):	18.623
Parabolic SAR (0,02-0,02-0,2):	17.860
Elder Ray (13):	1.718
Super Trend (3,10):	17.915
Zig ZAG (10):	20.650
VORTEX (21):	1.0850
Stochastique (14,3,5):	82.44
TEMA (21):	19.081
Williams %R (14):	-2.94
Chande Momentum Oscillator (20):	3.650
Repulse (5,40,3):	6.8060
ROCnROLL:	1
TRIX (15,9):	0.3010
Courbe Coppock:	21.26

MA7:	18.736
MA20:	17.678
MA50:	17.054
MA100:	17.299
MAexp7:	18.792
MAexp20:	17.950
MAexp50:	17.372
MAexp100:	16.720
Price / MA7:	+10.00%
Price / MA20:	+16.59%
Price / MA50:	+20.85%
Price / MA100:	+19.14%
Price / MAexp7:	+9.67%
Price / MAexp20:	+14.82%
Price / MAexp50:	+18.64%
Price / MAexp100:	+23.27%

Quotes : 2020-12-04 00:00:00 - End-of-day data - Australia Stocks

News

Don"t forget to follow the news on FORTESCUE METALS GROUP LTD. At the time of publication of this analysis, the latest news was as follows:

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

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