The Australian iron ore miner has reached an important resistance. The next moves could be decisive for the near future of the stock. However, the recent drop in iron ore prices (see chart FEF1!) makes any predictions difficult.
FMG itself is - from my point of view - still fundamentally very interesting due to low debt, its investments into the future (autonomous, cero carbon, hydrogen) and inflationary politics from central banks.
Fe having dropped again today, should lead FMG down further and again post dividend next Tuesday 7 August.
h3DgE4B33F
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It wouldn't be crazy if Fe halved from here.
YummyStocks
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@h3DgE4B33F, indeed - on the other hand inflation and infrastructure programs should have a long-term effect on raw materials - question is rather how much China can do to bring the Fe price down