I started a savings plan on Fortescue Metals a few months ago and am now down around 17% 🤑
The reasons for my investment included: strong margin, solid balance sheet, supposedly favorable valuation, experienced management
I thought that the one or other support not shown here would hold. This was not the case and a nice downward trend has established itself, but theoretically there would be this strong support between $13.60 and around $14. That would still be around 9% of the current price level.
The impulsive part of me wants to get rid of this position right now.
The quiet voice inside me says: delete the savings plan, keep watching and if the support holds, buy more.
On the other hand, I can do both, sell now and possibly buy later at a lower price (if there is still interest 🤓)
The share is in any case: heavily dependent on Chinese demand, is struggling with strong cost pressure, the last figures were probably not so exhilarating either, I think over 50% profit slump and I get a headache when I read that they are investing in hydrogen projects and green energy instead of their operating business. (although of course that also has potential)
🤔
