I am long on SYD but i don't agree.
There is no momentum.
It's a grind to put on a 3 - 4c yet, it drops 5c on open.
This to me does not look and feel like momentum. It looks like a opportunity to exit.
It is frustrating to see it stuck between 3.05 - 3.10 after a drop from 3.60, as I believe on fundamentals currently, its a good bet. One would have expected a bounce back to at least 3.20 when you factor in the Ords have been doing ok.
Keep a close eye might bail and re-enter!!
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- on the way up - gaps to be filled.
on the way up - gaps to be filled., page-3
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