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Tackling FMG & Iron Ore

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Tackling FMG & Iron Ore

Good Morning. What am I missing with FMG? Is there something else apart from the Iron ore price? All I have read is quite positive, but down they go. Suits me. I am ready to start layering in here around $19. What is your thoughts on where it is going please. – Michael O.

Answer

Hi Michael,

I believe you’ve hit the nail on the head, FMG is following the iron ore price lower, while I’m typing this on Monday afternoon the bulk commodity is down almost 7%. At this stage we can see some more weakness but it’s a great stock with the question being where to buy, at this stage we are in no hurry just yet. $16 would be an ideal level.

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Fortescue Metals (FMG) v Iron Ore
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