Trends and Targets for 24/05/2017
SIRIUS MINERALS (LSE:SXX) Our prior Sirius outlook (link here) expressed some doubts, verging on hysteria, that Sirius actually CLOSE a session above 31p to permit confidence for the future. It certainly managed the lame move from 23 to our initial 26p target without much drama but aside from providing a textbook case of "this is why we give two targets" by reversing from 26p, the share price has since managed similar integrity to Mrs May's firm policy statements - temporary at best!
In theory, movements now above just 29p should provoke 31p near term with secondary, if bettered, at 35p.
Unfortunately, once again we're still demanding the share actually close above 31p and for a change, we'll explain the logic. Circled on the chart is a manipulation gap in price movements at 37p. When the share price was forced downward, it created a set of circumstances which insist the price now needs actually CLOSE a session above 31p to exhaust price movements since it was opened at 30p on November 2nd last year. By actually CLOSING above 31p, we're able to factor in forces from the period when the share was trading up to 51p with these able to impart oomph for some quite strong growth, hence our longer term pencil marks at 47 and beyond.
Our worry currently is the lack of commitment being given toward 31p but to be realistic, the share price needs drill below 24p to justify any real concern at the lack of growth. This scenario looks capable of triggering an initial 22p with secondary 17p and the suggestion of a bonk against the long term uptrend.
For now, we're probably being silly as exquisite care was taken recently to cover manipulation gaps created from 27.25p so it's probably just a matter of patience. And crossed fingers...
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
|9:05:10PM||BRENT.||The short makes sense|
|9:13:33PM||FTSE.||Feels like it wants small drop|
SUCCESS above means both FAST & SLOW targets were met. 'CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today's updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at firstname.lastname@example.org. Spam filters set to maximum so only legit emails get through...
Section One - Outlook Updated Today. Click here for Section Two - Outlook Remains Valid shares
Click Epic to jump to share: LSE:ASC Asos** **LSE:BARC Barclays** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:GENL Genel** **LSE:HUR Hurrican Energy** **LSE:RBS Royal Bank Scot** **LSE:SDY Speedyhire** **LSE:TAN Tanfield** **LSE:VED Vedanta** **LSE:VOG VICTORIA** **
Updated charts published on : Asos, Barclays, Firstgroup, Foxtons, Genel, Hurrican Energy, Royal Bank Scot, Speedyhire, Tanfield, Vedanta, VICTORIA,
LSE:ASCLSE:ASC Asos. Close Mid-Price: 6278 Percentage Change: + 1.11% Day High: 6293 Day Low: 6170
Further oomph bettering 6293 remains pointing at 6464 next as a pretty maj ........
LSE:BARCLSE:BARC Barclays. Close Mid-Price: 214.25 Percentage Change: + 0.28% Day High: 217.05 Day Low: 213.65
Target Met. Further growth above 217p signals 219.5p next with secondary, ........
LSE:FGPLSE:FGP Firstgroup. Close Mid-Price: 147.9 Percentage Change: + 1.09% Day High: 148.3 Day Low: 146.5
Target Met. This has not quite closed in super dooper territory, needing c ........
LSE:FOXTLSE:FOXT Foxtons. Close Mid-Price: 107.25 Percentage Change: + 2.88% Day High: 108 Day Low: 104
Some changes are due to this as motion above 108 now points at 114p as a v ........
LSE:GENLLSE:GENL Genel. Close Mid-Price: 86.75 Percentage Change: + 6.44% Day High: 87 Day Low: 81.25
Above 87 NOW suggests continued movement toward 97p next with secondary 11 ........
LSE:HUR Hurrican Energy Close Mid-Price: 51.75 Percentage Change: -3.27% Day High: 54.25 Day Low: 50.75
Below 50p points at 47.5p next with secondary at 40p. The share price need ........
LSE:RBSLSE:RBS Royal Bank Scot. Close Mid-Price: 264.9 Percentage Change: + 1.26% Day High: 267.9 Day Low: 260.4
Our outlook is unchanged. It's still residing in the situation where 268 b ........
LSE:SDYLSE:SDY Speedyhire. Close Mid-Price: 57 Percentage Change: + 4.11% Day High: 57 Day Low: 55
Speedyhire needs mid-price trades ABOVE 57 to improve acceleration toward ........
LSE:TANLSE:TAN Tanfield. Close Mid-Price: 15.88 Percentage Change: + 4.10% Day High: 16 Day Low: 15.25
Target Met. Took its sweet time! Now above 16p points, almost suspiciously ........
LSE:VED Vedanta Close Mid-Price: 635.5 Percentage Change: -1.78% Day High: 650 Day Low: 632.5
The situation remains of weakness below 580 suggesting 563 initially with ........
LSE:VOGLSE:VOG VICTORIA. Close Mid-Price: 63 Percentage Change: + 4.13% Day High: 63 Day Low: 60.25
This has failed to produce the expected flop to 40p and currently only nee ........
*** End of "Updated Today" comments on shares. Listed below are those where commentary remains valid.
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Many thanks for taking the time to read this and good luck for today. Please feel free to mention us after something goes right!
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