Sirius Minerals 5/03/2020

#DOW #SP500 When we last reviewed #Sirius (link), we gave criteria for a lift to 5p. Thankfully, the share price has not only reached this level but exceeded it, suggesting a new game is afoot. The share price has been very obviously lifted above the immediate downtrend, hinting the market has plans for the future.

It appears, near term above 5.5p should bring continued recovery toward an initial 6.8p. Beyond such a level, things get more than a little vague and we suspect moves shall depend on news flow, along with overall market conditions. Our secondary above 6.8 calculates at 7.6p but, thanks to the circled gaps, the share price could easily accelerate to 8.7p instead.

We’re a little surprised at our 3rd level target of 8.7p as it doesn’t even come close to covering the gap from 10p in September last year. Usually, the implication is we should expect some volatility as the price recovers, ideally banking sufficient energy for some longer term price growth.

The other side of the coin is at 5p currently. Any move capable of bringing Sirius below the Grey trendline would prove a poor show, hinting the forced upward movement has been a mistake. Visually the chances of this are doubtful unless the company has some further bad news they intend release. A shuffle below this trend risks real trouble, taking the price into a zone where 1.4p presents as a “fingers crossed” bottom, thanks to the ultimate drop target residing at an impossible -17p!

Hey, chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:35:32PM

BRENT

51.59

               

10:39:26PM

GOLD

1637.71

               

10:41:33PM

FTSE

6840.77

               

Success

10:43:33PM

FRANCE

5531.5

               

10:45:55PM

GERMANY

12218.45

               

Success

10:50:13PM

NASDAQ

8896.3

               

Success

10:52:13PM

US500

3113.82

3031

2992.5

2946

3077

3133

3151.75

3177

3082

‘cess

10:58:53PM

DOW

26969

26351

26161.5

25850

26650

27095

27192.25

27405

26799

Success

11:01:02PM

JAPAN

21432

               

 

4/03/2020 FTSE Closed at 6815 points. Change of 1.44%. Total value traded through LSE was: £ 7,896,662,173 a change of -10.1%

3/03/2020 FTSE Closed at 6718 points. Change of 0.96%. Total value traded through LSE was: £ 8,783,341,942 a change of -20.21%

2/03/2020 FTSE Closed at 6654 points. Change of 1.12%. Total value traded through LSE was: £ 11,007,742,370 a change of -20.6%

28/02/2020 FTSE Closed at 6580 points. Change of -3.18%. Total value traded through LSE was: £ 13,863,850,185 a change of 59.9%

27/02/2020 FTSE Closed at 6796 points. Change of -3.49%. Total value traded through LSE was: £ 8,670,151,517 a change of 31.45%

26/02/2020 FTSE Closed at 7042 points. Change of 0.36%. Total value traded through LSE was: £ 6,595,554,712 a change of -16.85%

25/02/2020 FTSE Closed at 7017 points. Change of -1.94%. Total value traded through LSE was: £ 7,932,387,742 a change of 6.36%

This post has already been read 102 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.