SYR 2.74% 35.5¢ syrah resources limited

This may be of interest to TA minded. Syrah Resources Ltd forms...

  1. 357 Posts.
    lightbulb Created with Sketch. 15
    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
 
watchlist Created with Sketch. Add SYR (ASX) to my watchlist
(20min delay)
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
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
SYR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.