Technical analysis from Fortescue Metals (FMG.AX.AX, ASX:FMG.AX) on the Australian Stock Exchange (ASX). Download the latest price data & trading signals

Fortescue Metals
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Potential continuation of a trend reversal (Bearish) for Fortescue Metals
Commodity Channel Index /
Potential continuation of a trend reversal (Bearish) for Fortescue Metals

[BEARISH]: Fortescue Metals current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is 126.0000. The bearish signal has been active for 0 day. During the quarter, the highest CCI value was 149.

Price continues to trade above the Weighted Moving Average(5) for FMG
Weighted Moving Average /
Price continues to trade above the Weighted Moving Average(5) for FMG

FMG: WMA Current Signal -> (1) 23 Apr: BEARISH (2) 20 Apr: BEARISH (3) 19 Apr: BEARISH CROSSOVER

Medium Trend /
Second timeframe trend of Fortescue Metals remains as an Downtrend

[BEARISH]: Fortescue Metals is in an downtrend in the medium term timeframe. The current rally number is 30 & the highest rally count for the LTM is 62. The highest rally for the month is 16

Opening Price /
Recent trading has opened -1.3 % lower than previous close for FMG

[BEARISH]: Fortescue Metals opening price has gapped down. Currently, the OPEN is $4.6200 (-1.3 %).

Moving Average Envelope /
FMG: Price continues to move below the Lower Envelope Band @$4.3510

[BEARISH]: Fortescue Metals current trading has maintained the Envelope Bands to overbought status and signalled the continuation of the bearish trading conditions. Currently, the Upper Band is 4.8090.

Sine Weighted Moving Average /
The SWMA trend following signal is still current for Fortescue Metals [Bullish]

[BULLISH]: Fortescue Metals currently has a confirmed uptrend. Recent trading has caused the SWMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on SWMA5 is 1.1%.

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Average Directional Movement /
Fortescue Metals : Average Directional Index (24.8800) has confirmed a weak trend is present

[Weak Trend]: ADX for FMG has confirmed a weak trend is presentFortescue Metals has an ATR(14) of 0.1190, a DX of 12.2900 & an ADX(14) of 24.8800

Open/close reversal confirmed for Fortescue Metals  signalling the buyers have lost commitment
Open Tod Vs Close Tod /
Open/close reversal confirmed for Fortescue Metals signalling the buyers have lost commitment

[BULLISH WEAK]: Fortescue Metals opened in the lower part of daily range at 0.000000000000000% & closed in the middle part of the trading range at 57.100000000000000%. This suggests the buyers have lost commitment. Over the last 12 months there has been 30 trading days with the opening price in the lower shadow & the closing the price in the middle shadow giving a confirmation ratio of 11.4%. Over the last month there has been 4 trading days with the opening price in the lower price range & the closing the price in the middle price range giving a confirmation ratio of 25%.

This quarter, the largest upswing rally has been 3 days giving a total rally upward movement of 4.6%
Close Tod Vs Close Yest /
This quarter, the largest upswing rally has been 3 days giving a total rally upward movement of 4.6%

FMG: Recent performance signals ->(1) 23 Apr: BULLISH (2) 20 Apr: NEUTRAL (3) 19 Apr: BULLISH

Triangular Moving Average /
Fortescue Metals : Closing price $4.6800 is above the TMA(5) @$4.5520

[BULLISH]: Fortescue Metals currently has a confirmed uptrend. Recent trading has caused the TMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on TMA5 is 1.1%.

Demarks Pivot Points /
DeMark pivot point for FMG is bullish. Stoploss should be positioned @$4.6500

Fortescue Metals has broken the first DeMark resistance point ($4.6875) [Bullish]. Look for a long limit order entry near this point. Exit price for FMG should be set @$4.7550 & Stoploss for Fortescue Metals should be set at $4.6500

Elders Force Index /
Fortescue Metals : Direction, extent & volume have increased in recent trading [Buying Pressure]

[BULLISH]: Fortescue Metals current price has highlighted recent buying pressure. Currently, the Elders Force Index is 512117.0000.

Price moved on high volume to close higher for the day for FMG [Difficult to Move]
Ease of Movement /
Price moved on high volume to close higher for the day for FMG [Difficult to Move]

FMG: EOM Current Signal -> (1) 23 Apr: BULLISH HARD (2) 20 Apr: BEARISH HARD (3) 19 Apr: BULLISH HARD

Fortescue Metals : Look for a long limit order entry @$4.7300
Pivot Points /
Fortescue Metals : Look for a long limit order entry @$4.7300

Fortescue Metals has broken the first resistance point ($4.7300) [Bullish]. Look for a long limit order entry near this point. Exit price for FMG should be set @$4.7800 & Stoploss for Fortescue Metals should be set between $4.5700 & $4.5200

MACD /
Fortescue Metals : MACD oscillator (0.0620)

[BULLISH]: Fortescue Metals currently has positive MACD of 0.0620. This means the signal line is greater than the MACD line signalling a bullish movement. Currently, the return on MACD is 5.4%.

Chaikin Money Flow /
Fortescue Metals continues negative divergence & potential shift in direction

[BEARISH]: Fortescue Metals current price has highlighted recent selling pressure and the continuation of a bearish trading conditions. Currently, the CMF is -0.0900. FMG received a confirmed CMF crossover days on the Mar 5 2018.The bearish signal has been active for 2 days. During the quarter, the lowest CMF value was -0.14 occurring on the Mar 5 2018.

Woodie Pivot Point /
[Long]: Exit price for FMG should be set @$4.7810

Fortescue Metals has broken the first Woodie resistance point ($4.7320) [Bullish]. Look for a long limit order entry near this point. Exit price for FMG should be set @$4.7810 & Stoploss for Fortescue Metals should be set at $4.5710

Fortescue Metals : Elder Ray Index is 0.1760 [Bullish]
Elder Ray Index /
Fortescue Metals : Elder Ray Index is 0.1760 [Bullish]

FMG: Elder Ray Index Current Signal -> (1) 23 Apr: BULLISH (2) 20 Apr: BULLISH (3) 19 Apr: BULLISH

Fortescue Metals : Volume MACD @-512067.0000 [Bearish]
MACD Volume /
Fortescue Metals : Volume MACD @-512067.0000 [Bearish]

FMG: Volume MACD Current Signal -> (1) 23 Apr: BEARISH (2) 20 Apr: BEARISH (3) 19 Apr: BEARISH

Fortescue Metals : Daily price range is $0.1050 [Uptrend]
Price Range /
Fortescue Metals : Daily price range is $0.1050 [Uptrend]

FMG: Price Range Current Signal -> (1) 23 Apr: BULLISH (2) 20 Apr: BULLISH (3) 19 Apr: NEUTRAL

Coles Reaction Day /
FMG: Short term trend has confirmed a reaction day

Fortescue Metals : Coles Reaction Day has been confirmed A lower low has been achieved for last trading day for FMG

Closing Price /
Close for FMG has surpassed the close of the previous trading session

[BULLISH]: Fortescue Metals current uptrend in the first timeframe. Currently, the Close is $4.6800.

Stochastic Oscillator /
Fortescue Metals is still overbought with the Stochastic Oscillator @91.0000

FMG: Stochastic Oscillator Signal -> (1) 23 Apr: BEARISH (2) 20 Apr: BEARISH (3) 19 Apr: BULLISH CROSSOVER

Simple Moving Average /
Price continues to trade above the Simple Moving Average(5) for FMG

[BEARISH]: Fortescue Metals currently has a confirmed downtrend. Recent trading has caused the SMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on SMA5 is 1.1%.

Recent trading indicates ATR downward trend direction likely for FMG [Downtrend]
Average True Range /
Recent trading indicates ATR downward trend direction likely for FMG [Downtrend]

[Bearish]: Average True Range has confirmed an downtrend is present. Fortescue Metals has a TR of 0.1050, and an ATR(14) of 0.1190.

Price percentage oscillator: Downward momentum is still present for Fortescue Metals
Percentage Price /
Price percentage oscillator: Downward momentum is still present for Fortescue Metals

FMG: PPO Current Signal -> (1) 23 Apr: BEARISH (2) 20 Apr: BEARISH CROSSOVER (3) 19 Apr: BEARISH CROSSOVER

Volume /
Weaker volume performance from FMG has seen a lower volume of -10.1 [Downtrend]

[BEARISH]: Fortescue Metals current volume downtrend in the first timeframe. Volume for FMG is8551003 (-10.1).

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