#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!
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 |