It was known that SYA needed some funds with the acquisition of NAL and private funding is the main part of that funding - prior to and despite that, the sp headed up to over 10c in anticipation of all the 'good news' and whilst the chart may have indicated an upward trend, there was no way of knowing how high it would end. But end it did, and rather abruptly once CR announcement came through.
Upon market announcement of 7.5c issue price, market reacted negatively, pushing sp ever closer down to that issue price. Deep discount, deep retrace and knowing from previous experience that it is rather typical that it is common that those levels are where sp usually retraces to - either pretty much immediately or soon after - a chart couldn't have known the effect of the cr offering nor the level at which it was to be offered prior to the event. It shows in hindsight. If cr was set at 8.5c the retrace in all probability has stopped by now - but even as I write it is under 8c and looks as though soon to reach the magic number of the latest CR.
It also won't know for sure when sp will reverse to head upwards - as charts don't know when company announcements will be released and how the market will react to such. Charts tend to be reactive rather then proactive. Can be a great tool but not infallible otherwise all chartists would be very very rich - maybe some are but not all. Fundamentalists are not any better off either in the scheme of things currently either.
Perhaps silly not to have sold out at when sp was 10c and then - wait for the cr announcement and repurchase at 7.5-8c - but I guess it kinda depends on one's point of view of where the company will be at with it's sound fundamentals in 6 months or so. And thus now I'd like to see a higher number on those charts before any thought of departure - but I guess that is still a long term play despite the charts as well as fundamentals and subject to all risks and variables on the journey.
(20min delay)