Sirius Minerals (SXX): New Breakout Above 25p

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Here are the latest extracts from Zak’s new premium blog AIM Stocks Charting

It stars the likes of Petrel Resources (LSE:PET), Leni Gas And Oil (LSE:LGO) / Gulf Keystone (LSE:GKP) and most recently highlighting quadruple support for Gulfsands Petroleum (LSE:GPX) under 80p.

Sirius Minerals (SXX): Rising 200 Day Moving Average

One of the reasons that Sirius Minerals is firmly in focus from a technical perspective at the moment is the way that since the beginning of this month the all important 200 day moving average has started to tick higher after an extended period in which it traded flat. This may not look like much, but one of the technical rules which generally works well is to assume that one of the sweet spots as far as moves higher for stocks or markets in their price action cycle is the change from flat to up on the 200 day line. On this basis it can be said that while there is no end of day close for Sirius Mineral back below former October 25p resistance we would be looking for a “minimum” upside towards the former November 2011 resistance at 37p over the next 6-8 weeks.

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