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!

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%