FMG reports today but following the large drop in iron ore over the last few sessions we believe the risks are increasing on the downside although BHP’s stellar result and Fortescues much anticipated huge fully franked dividend in the first week of March, it is likely to have yield hungry buyers circling into any dips under $20. If today was a result free session we would be looking for the bulk commodity miner to consolidate its recent 65% surge higher but results usually lead to elevated volatility.
MM was neutral FMG into its result today
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