Fortescue Metals

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Average Directional Index

Score

0.6

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 5 78.8 0.60% 1.50% 24.7% -4.9% 64.3%
SHORT 4 81.5 0.50% 1.00% 17.9% -15.2% 5.5%

Summary

Technical Analysis

Fortescue Metals (FMG.AX)


Indicator:

AVG DIRECTIONAL INDEX


Last Signal:

WEAK TREND


Trading: HOLD @ $8.76
Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.


Fortescue Metals (ASX:FMG) has confirmed a weak trend is presentFortescue Metals has an ATR(14) of 0.328, a DX of 24.51 & an ADX(14) of 16.73



The Average Directional Index (ADX) Minus Directional Indicator (-DI) and Plus Directional Indicator (+DI) represent a group of directional movement indicators that form a trading system developed by Welles Wilder.

Calculation: Average Directional Movement Index (ADX):
Trend Strength ;
1) 0-25 = Absent or Weak Trend;
2) 25-50 = Strong Trend;
3) 50-75 = Very Strong Trend;
4) 75-100 Extremely Strong Trend;


PROFILE: Fortescue Metals (FMG.AX)


Stock Exchange: ASX
Company: Fortescue Metals
Ticker Codes: | FMG.AX | ASX:FMG |

About Fortescue Metals (ASX:FMG):

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It owns and operates the Chichester Hub that consists of the Cloudbreak and Christmas Creek mines located in the Chichester Ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley Ranges of Pilbara, Western Australia. The company was founded in 2003 and is based in East Perth, Australia.

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Average Directional Index

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