##{"id":58612,"date":"2011-08-04T10:05:58","date_gmt":"2011-08-04T00:05:58","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/08\/04\/trade-the-fortescue-range-saystechwizard\/"},"modified":"2011-08-04T10:05:58","modified_gmt":"2011-08-04T00:05:58","slug":"trade-the-fortescue-range-saystechwizard","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/08\/04\/trade-the-fortescue-range-saystechwizard\/","title":{"rendered":"Trade The Fortescue Range, SaysTechWizard"},"content":{"rendered":"<p>\n\tThe <span>TechWizard<\/span> confessed this week he&#039;s secretly a fan of <span>Fortescue<\/span> ((<span>FMG<\/span>)) shares. Not because of the company&#039;s strong leverage to a buoyant looking iron ore market, but because the share price has remained stuck inside a well-defined trading range for a long time now. For market traders, he explains, this opens up plenty of opportunities, as long as one remains confident the shares will remain inside the band.<\/p>\n<p>\n\tThe Wizard seems to have little doubt, if any, this will prove to be the case for <span>Fortescue<\/span>.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/FMG_TechWizard.jpg\" style=\"width: 670px;height: 401px\" \/><\/p>\n<p>\n\tThis week&#039;s <span>headwinds<\/span> have pushed <span>Fortescue<\/span> shares back towards the bottom of the $6-$6.98 trading range, observes the Wizard. He adds a sideways trading range is good to trade as one has predetermined support and resistance levels to enter trades from.<\/p>\n<p>\n\tThe <span>TechWizard<\/span> is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at <span>www.techwizard.com.au<\/span>. All views expressed are the <span>TechWizard&#039;s<\/span>, not <span>FNArena&#039;s<\/span> (see our disclaimer).<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we <span><span>ap<em>ologise<\/em><\/span><\/span><em>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well-defined share price ranges offer opportunities for traders, reports the TechWizard.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[89,88],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58612"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58612"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58612\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}