SYB symbion health limited

*** may - double top and downside to come, page-2

  1. 873 Posts.
    I think one would have a reckless and reactionary style of trading if one thought that today's action in MAY constitutes a double top simply because it hit the same resistance level twice. It is not a clear double top at all.
    Shorting into uptrends is one of the quickest ways to lose money. Comments made about the indicators looking "shocking" are also complete rubbish.
    It hasn't even fallen below yesterday's close at $3.91 yet - let alone the 10 day MA. It is having a breather because it has run a little ahead of itself.
    Next resistance level is $4.12.
    I can't say it won't fall tommorrow, but your reasoning for so confidently predicting a fall is very faulty.
    The content of the report may have a few surprises, attracting further institutional interest, and the stock may indeed rally in the days/weeks after the report is released.






 
watchlist Created with Sketch. Add SYB (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.