FMG had been in a very nice uptrend in 2020, but the recent price action of Lower Highs and Lower Lows suggest that the trend may have weakened and it may find resistance between $24.00 and $25.00 level, and head lower. I think we may see a decent retracement lower ideally between the 50% and 61.8% Fib Retracement, between $14.00 and $15.50. I would be cautious at the current levels and wait for a pullback to enter a buy position.
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
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As expected. FMG failed to make a new high and has dropped. Expecting it to pull back lower which could be a very good buying opportunity!