(Asx: FMG) | FORTESCUE METAL | BUYING

Nov 4, 2020

On 19th of September we said that we were not touching on this stock suggest not to touch yet. We now believe that FMG has some potential to reach a 15% profit target and even 20% if reach new highs and we are entering on a postion.

Target: $19

Profit: 15%

Buying price $16.43

Stop loss: $14.45

Opportunity to buy on the deep.

Key facts we are using to open a position:

✅ SP and EMA are still trading above SMA, confirming a bullish intersection few days ago.

✅ Volume is relatively low on the

✅ Company pays great dividend, we believe it should be able to maintain over FY21.

🚩 Watch out for EMA or SP formation during the next few days, a possible bearish intersection is still possible.