Sirius - SXX

I was tempted to buy some today....

Thanks, very informative.

Taxpayer backing for loan to Moors potash operator Sirius Minerals

www.thetimes.co.uk/article/taxpayer-back...s-minerals-jq6gcpqn0

Taxpayers are set to stand behind a large chunk of a £2.2bn loan for Britain's biggest-ever mine.

Sirius Minerals, which owns a giant potash deposit in North Yorkshire, is in talks with the Treasury to guarantee the loans it needs to complete its project.

Under the deal, the Treasury's infrastructure fund would underwrite a portion of the fundraising, in return for a fee. Last year Sirius secured $1.2bn (£900m) of investment to begin digging.

The company plans to raise £2.1bn of debt next year.

The mine is set to deliver nearly £4bn in dividends to local landowners over the coming decades, including the Queen and the North York Moors national park this year."

sxx daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...pJ2HFcWXXjcfBaaMjMs=

This is having real trouble at the 20 and 200 day ema lines, with both of those features acting like huge walls atm.....

Needs a close above 26.9p now for further upside imho...

lets see, i still think sub 20p possible first....

atb, wdik, dyor
trendfriend

A couple of quick charts.

sxx - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...W3afYS8vA94lhLgzs%3D

first possible signs of a end to the downtrend here, a few closes above teh 20 day ema line, but still below the trendline, the 50 day ema line, the daddy of them all the 200 day ema line.

The rsi looks encouraging, a break above June down trendline, and above the 50/100 positive marker.

Sometimes these moves get exhausted just testing the key level, so until no close above the 50 day line at 26.5p, no longs position imvho.

The weekly shows this falling wedge could just continue untill it goes sub 20p.
uk.advfn.com/p.php?pid=chartscreenshotsh...Cpo7FXHGQnTT3Yk74%3D

atb, wdik, dyor,
trendfriend

This doesn't look great here at Sirius imvho.
I didn't buy this breakout, mainly because i had my hands full, but also because i didn't really fancy it tbh...but i was looking to free up some funds and buying a retest of 26p(if it happened).

As it turns out this failed at the 200 day ema line, and closed below all of the support/resistance levels, it managed to get above.

sxx - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...yxMSms0RWCk/eh8l+O4=

This needs to get back above 26p quickly imvho....if it fails, then this has been a bull trap, and the second bull trap with one taking place in Sep, these type of bull traps are synonymous with stocks that have not finished a bear phase/run imvho.....

sxx-weekly
uk.advfn.com/p.php?pid=chartscreenshotsh...iCh6LuS8kjo1qc7ck%3D

The weekly here, and this chart is in hindsight in all honesty, but it shows a perfect trendline failure i didn't think that would happen tbh.....
It also shows this is in a long term triangle, and failure to breakout, means a touch of the support trendline looks likely now imvho.... so sub 20p had become more likely, unless this can get back above 26p and the resistance trendline....

atb, wdik, dyor,
trendfriend