Chart of the Day: iron ore
Today I want to take a technical look at some of the major and junior iron ore miners listed on the ASX. Five to be exact:
I use a fractal method at analysing price action, that is, using monthly/weekly charts for overall price and daily charts for short term activity (and hourly/30 minutes for day trading)....MORE
- BHP-Billiton (BHP)
- Rio Tinto (RIO)
- Fortescue Metals (FMG)
- Atlas Iron (AGO)
- Mt Gibson Iron (MGX)
Fortescue double downgrade: Morgan Stanley
From the bear fangs of Morgan Stanley comes a turnaround in the fortunes of Fortescue Metals (FMG):
We no longer project cash accumulation, debt reduction and increased dividends. This is the result of a sharp shift in the MS house view on iron ore prices. In fact, additional debt restructuring is required under our new outlook. We move to UW (underweight).Oh dear....MUCH MORE
