The Fortescue share price has surged 22% in a month. Should you ‘remain cautious’?
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The Fortescue Ltd (ASX: FMG) share price has jumped 22% in just one month, significantly outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 2.6% in the same time period.
The ASX mining share has benefited from a significant increase in investor optimism about the resources sector.
With such a rapid rise, investors may be wondering if this is the right time to invest or whether the gains have already occurred.
One expert has shared their view on the situation and whether the Fortescue share price is attractive today.
Take profits off the table
Writing on The Bull, Peter Day from Sequoia Wealth Management called Fortescue shares a sell on 7 October 2024.
He noted that the market had been hoping…
