61.8% Fibonacci retracement level is just under 3c for the high of 5.5c if using highs and lows. 50% retrace level of closing prices is 2.7c, 61.8% is 2.4c.
Given it broke down under the recent range - I expect a test of 2.7c first - the strength of this support will be interesting. Normally I'd assume a healthy bounce if a positive is likely.
It has actually left a small gap behind between 3 and 3.1c - something to remember for later.
Personally - I'm not rewady to jump in yet, but will do so when I think the time is right as they seems a good company - but ideally I 'd like to know where they're going to get their running funds from for the next year or three, before I do make a commitment to SYS.
Regards
SYS Price at posting:
2.9¢ Sentiment: LT Buy Disclosure: Not Held
