This may be of interest to TA minded.
Syrah Resources Ltd forms bearish "Top Triangle" chart pattern
Feb 20, 2017
Recognia has detected a "Top Triangle" chart pattern formed on Syrah Resources Ltd (SYR:ASX). This bearish signal indicates that the stock price may fall from the close of 3.09 to the range of 0.10 - 0.70. The pattern formed over 157 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a top, showing signs of reversal as it has broken downward after a period of uncertainty or consolidation. A Top Triangle shows two converging trendlines as prices reach lower highs and higher (or stable) lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks down below the lower trendline with a noticeable increase in volume, confirming this bearish pattern as a reversal of the prior uptrend.
This bearish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
Column 1 0
- Forums
- ASX - By Stock
- S-Curve
This may be of interest to TA minded. Syrah Resources Ltd forms...
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SYR (ASX) to my watchlist
|
|||||
Last
35.5¢ |
Change
-0.010(2.74%) |
Mkt cap ! $367.3M |
Open | High | Low | Value | Volume |
35.5¢ | 37.0¢ | 35.0¢ | $2.274M | 6.355M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 189831 | 35.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
36.0¢ | 53310 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 187131 | 0.350 |
9 | 989772 | 0.345 |
10 | 583444 | 0.340 |
3 | 965374 | 0.335 |
13 | 506775 | 0.330 |
Price($) | Vol. | No. |
---|---|---|
0.360 | 53310 | 3 |
0.365 | 264000 | 2 |
0.370 | 21683 | 4 |
0.375 | 174001 | 2 |
0.380 | 117894 | 4 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
Featured News
SYR (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online