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48.5¢ syrah resources limited

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Ignattious

1,384 Posts.

367

03/11/23

14:08

Post #: 70713747
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Originally posted by imback: ↑

It will take a pretty significant event to close the lower gap, imo. Not sure what that event is besides a CR.

Technically we have bounced off the 61.8% fib retracement (around 0.63) from this impulse wave which looks like a EW wave 1. We are in a wave 2 retrace which when done will push this to close that upper gap at 1.40 at some point.

I think the fundamentals changing from China were not considered when this was shorted to death. They will now try to keep a lid on this as they play a range trade and earn some money as they exit their shorts. Whilst the shorts are staying high, I believe they are new intra day shorters, whilst the long term shorters slowly exit. The overall shorts will slowly come down. They need to control the SP this way because they can't exit their entire shorts in one go without the SP going off. This is what BEOT can do when they have access to so many borrowed shares thanks to AusSuper and Vanguard and other long funds.

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This is on the money.

All you need to set the cat amongst the pigeons is an announcement which gets retail FOMO'ing.

Like they are reopening a mine or getting a grant from somewhere ?

SYR Price at posting: 77.0¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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(20min delay)
Last 48.5¢		Change 0.025(5.43%)		Mkt cap ! $416.0M

Open	High	Low	Value	Volume
46.5¢	48.5¢	46.5¢	$1.182M	2.478M

Buyers (Bids)

No.	Vol.	Price($)
1	27302	48.0¢

Sellers (Offers)

Price($)	Vol.	No.
48.5¢	74015	5

View Market Depth

No.	Vol.	Price($)
1	27302	0.480
6	160622	0.475
3	41500	0.470
4	51451	0.465
15	268057	0.460

Price($)	Vol.	No.
0.485	47515	3
0.490	55422	6
0.495	184100	6
0.500	290391	9
0.505	215000	3

Last trade - 16.10pm 10/05/2024 (20 minute delay)


Last 48.0¢			Change 0.025 ( 4.30 %)
Open	High		Low	Volume
47.0¢	48.5¢		47.0¢	620222
Last updated 15.59pm 10/05/2024 ?

SYR (ASX) Chart