Sirius Minerals share price: bearish movement continues
The longstanding downtrend in Sirius Minerals remains in effect, despite news on production at its Yorkshire site.
The news from Sirius Minerals this morning has failed to inspire the share price, which is beginning to run out of steam below 15p.
The price has been trending lower since August last year, and a downward channel remains firmly in place. The price bounced off the lower bound of the channel in mid June, but already bullish momentum appears to be fading. A push above 16.4p would break the resistance level that prevailed in late May and early June, and carry the price on towards 19p, and then the upper bound of the channel at 20p.
If the price breaks lower from the descending channel, then the risk is that the 2015 lows around 10.5p come into play very quickly, providing a fresh bout of bearish momentum for the share price.
Get an in-depth fundamental analysis of Sirius Minerals shares.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
