Short Term Trading Week Starting: 29 Jan, page-43

Totally agree. The buyback has worked wonders. Iron ore prices are remaining consistently higher than the $55 mark than many predicted would be its LT pivot point. Vale keep self-imploding - always good for a competitor like FMG. And while cash flow and profit margins did suffer major declines coming out of 2015, FMG has reorganised its books and strategic plans to put them in a good position for some excellent growth - bar potential international headwinds. Plus they have been undervalued for over a year. When BHP started its climb from $20, FMG stagnated due to missing market expectations and the resultant reconfiguration brokers would know would take a while to implement.

So, ignoring Goldman Sachs recommendation for a moment, the positivity coming back to FMG's FA, and the TA break above 4.5 (on the weekly) along with the daily breakout around $4.30 (which for once, I predicted to a T over at Tradingview) are buy signals for me. The daily I expect to see some zig-zaging but with my buy in price reaping me a relative dividend (hopefully) of 6%, I'm aiming for the $6.2-6.5 mark before I even consider selling.