Fortescue Metals (FMG)

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Fortescue Metals (FMG): Signals

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TECHNICAL ANALYSIS SUMMARY

Fortescue Metals (FMG.AX)


Indicator:

ELDERS FORCE INDEX


Last Signal:

BULLISH


Trading: BUY @ $4.67
Signal Strength: MEDIUM
Recommendation:

Volatility indicators highlight potential moves of a stock which can either move sharply in the updwards or downwards direction. This indicator allows stocks to be compared on a level playing field to highlight high and low volatility. Normally, falling markets are more likely to be volatile than a rising markets due to the emotion that gets tied to trading. Use volatility indicators in conjunction with other indicators to reduce exposure to false moves.


Fortescue Metals (ASX:FMG) current price has highlighted recent buying pressure. Currently, the Elders Force Index is 629427.



Elders Force Index (EFI) measures the power behind a price movement using price and volume. The indicator can also be used to identify potential reversals and price corrections. The EFI is an oscillator that fluctuates between positive and negative values above and below a Zero Line.

Calculation: Elders Force Index (EFI):
1) Close – Close yesterday x Volume;


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.

Top 10:

Elder's Force Index

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