Sirius Minerals Plc Forecast and Stock Analysis
Technical SXX.L stock analysis for Friday May 17, 2019.
Sirius Minerals Plc fell by -5.75% in the last day ( Friday, 17th May 2019 ) from £16.71 to £15.75 and has now fallen 4 days in a row. During day the stock fluctuated 6.67% from a day low at £15.75 to a day high of £16.80. The price has fallen in 6 of the last 10 days and is down by -4.72% for this period. Volume has increased in the last day by 9.85 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 51.01 million shares bought and sold for approximately £803.47 million.
- 30 day high of the SXX.L stock price was £23.80 and low was £15.00.
- 90 day high was £27.00 and low was £15.00.
- 52 week high for the Sirius Minerals Plc - £39.78 and low - £15.00.
Sirius Minerals Plc lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £14.93 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.66% during the next 3 months and, with 90% probability hold a price between £13.64 and £20.52 at the end of this period.
There are few to none technical positive signals at the moment. Sirius Minerals Plc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at £17.32 and £19.58. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday May 10, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 30 and the stock is currently not being overbought or oversold
Support & Resistance
Sirius Minerals Plc finds support from accumulated volume at £15.21.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £1.05 between high and low, or 6.67%. For the last week, the stock has had a daily average volatility of 10.12%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
10.12 %Average volatility
Very Low Low Medium High Very High
Sirius Minerals Plc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Strong Sell Candidate.
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