#Sirius Minerals #CAC40 #SP500 When we last covered this lot in October (link here), we expressed some concern for the future of the share price. Unfortunately, our negative thoughts appear justified with movement since, thanks to the share price closing sessions in dire territory.
The situation now is a bit earth moving…
It would be easy to write, traffic below 19p looks capable of 16p next but in reality, once the share started trading below 22.75p, it appears 16p is exerting a magnetic attraction. We’ve a pretty simple issue in the event 16p is broken, due to secondary calculating at 11.5p and hopefully a realistic bounce.
Of course, there’s a larger issue.
Negative news could now drive this downhill to 5p in a flash!
To get out of this mess, the price needs first recover above RED on the chart, presently at 23.5p. Such a miracle allows for traffic to an initial 26.5p with secondary, if exceeded, at 29p. Visually, there is ample reason to anticipate a stumble at the 29p level but at least the price would remove itself from the risk of 5p making an appearance.
For the present, our best hope is for 16p to allow some sort of rebound.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:15:29PM |
BRENT |
56.67 |
|||||||||
|
10:18:32PM |
GOLD |
1243.47 |
‘cess |
||||||||
|
10:20:35PM |
FTSE |
6681.18 |
Shambles |
||||||||
|
10:22:53PM |
FRANCE |
4717.5 |
4703 |
4681 |
4596 |
4802 |
4803 |
4827.5 |
4869 |
4748 |
Success |
|
10:24:50PM |
GERMANY |
10643.65 |
‘cess |
||||||||
|
10:27:59PM |
US500 |
2501.62 |
2486 |
2476.75 |
2435 |
2557 |
2585 |
2618 |
2663 |
2525 |
Suck…d |
|
10:31:38PM |
DOW |
23289.8 |
Shambles |
||||||||
|
10:34:16PM |
NASDAQ |
6327.24 |
Shambles |
||||||||
|
10:37:56PM |
JAPAN |
20678 |
Success |
19/12/2018 FTSE Closed at 6765 points. Change of 0.96%. Total value traded through LSE was: £ 7,769,260,633 a change of 9.94%
18/12/2018 FTSE Closed at 6701 points. Change of -1.06%. Total value traded through LSE was: £ 7,066,966,303 a change of 7.38%
17/12/2018 FTSE Closed at 6773 points. Change of -1.05%. Total value traded through LSE was: £ 6,581,217,772 a change of 14.58%
14/12/2018 FTSE Closed at 6845 points. Change of -0.47%. Total value traded through LSE was: £ 5,743,743,657 a change of -6.27%
13/12/2018 FTSE Closed at 6877 points. Change of -0.04%. Total value traded through LSE was: £ 6,127,869,664 a change of -22.92%
12/12/2018 FTSE Closed at 6880 points. Change of 1.09%. Total value traded through LSE was: £ 7,949,668,067 a change of 8.64%
11/12/2018 FTSE Closed at 6806 points. Change of 1.26%. Total value traded through LSE was: £ 7,317,378,636 a change of -1.09%