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.
Comment
⋅
Comment
⋅
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!