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Fortescue Metals (FMG) $17.60

While stocks have endured a tough few weeks, albeit it only a 5.1% pullback to-date, the embattled FMG has roared back to life rallying over 30% from its October lows, a classic case of the elastic band snapping back towards value – MM has gone long so let’s hope we’re correct believing there’s more fuel in the tank! Through 2021 we have witnessed a number of situations when stocks / sectors look their worst the “brave” buying has been rewarded with FMG on track to be another.

MM is bullish FMG initially targeting the $19-20 area
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Fortescue Metals (FMG)
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