Sims Ltd (SGM) is a recycler of ferrous and non-ferrous metals. They operate as a purchaser, processor, and seller. The Company’s primary operations are in the US, although it also has significant exposure to Europe and Australasia.

“For much of the past year, there had been some strong resistance near $17.50 which had been tested on a number of occasions,” Michael said.

“In the past several weeks, we have seen Sims Ltd finally break free of that, do a successful retest, and then continue to kick on.

“Volumes have also been healthy.

“The overall chart looks bullish and we expect this uptrend to continue for now,” Michael added.

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.