Too late to buy FMG? Not according to the chart
The last several weeks has seen Fortescue (FMG) bounce strongly from nearly $4.50 to over $5.80. Some analysts are getting nervous with the iron ore price up here, but is there even more upside for FMG? We have seen some huge moves in the price of iron ore during the last 12 months. Measured in $US/tonne, we’ve seen it rally from under $50 to over $80 earlier this year. It dropped back to the low $50’s in May and is …