Glencore and the odds of more share price gains
Independent analyst Alistair Strang thinks a bottom is in at the mining company, so focuses here on upside potential.
2nd July 2025 07:33
When we last analysed Glencore (LSE:GLEN)'s share price, we finished our article with a paragraph which read as below:
"In real life, Glencore's share price dribbled down to a bottom of 205p on April 7th, closing the day at a less painful 230p, once again a victim of our final paragraph. This paragraph is where we relax and cover ourselves by pointing out the threats if everything goes wrong. Glencore joined a not very select group of shares who suffered from the curse of our throwaway comment."
- Invest with ii: Open a Stocks & Shares ISA | Top ISA Funds | Transfer your ISA to ii
We are understandably concerned at the share price moving below our 211p target and hitting 205p during the trading session on 7 April. However, some hope is being taken by the price closing in relatively safe territory, meaning we should look at “surprise” recovery prospects. But before we delve into this theory which projects gains, a glance at the immediate situation is suggested.
Below 205p now calculates with the potential of reversal down to an initial 182p with our secondary, if broken, at eventual bottom of 117p. It becomes very difficult to calculate below 117p at present, due to many target levels coming out with minus signs ahead of them.
However, there are some signals we generally associate with a bottom being attained already, so we’re more inclined to look for suggestions for share price gains.
Currently trading around 291p, Glencore needs above 298p to hopefully trigger movements to an initial 324p with our longer-term secondary, if beaten, at 363p and a challenge against the Red uptrend since 2020.
In reality, we need closure above a future 355p to suggest impending movement of strength for the longer term. Essentially, closure above 355p should trigger a future argument which anticipates the potential of a distant 509p as exerting an attraction. Surprisingly, the chart visuals strongly concur with such an optimistic hope.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
Editor's Picks