So on the US (OTC) market place, ie: where the actual mine,...

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24/06/18

13:31

Post #: 33911097
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Originally posted by mikesz ↑

Given it’s a charting thread, I thought I’d add a chart into the conversation. As can be seen, the major construction on the chart is the descending channel (wedge) with a lower boundary now being touched by the SP at 3.7c (blue long term support). I mentioned I don’t see much downside from here, as looking at the relative volume for the past few periods, we can see a gradual drying up of volume.

The SP has declined purely our of frustration at lack of news. We also hit the May/June sell off period and this is very much confirmed by the volume profile. Also we can see a couple of significant, long term levels (marked red) at 5c and 6c. The 5c level is especially important as it was tested several times both as support and later as resistance. You’ll remember that SYA did a capital raise at 5.1c recently, so that level really makes sense.

Additionally, RSI is severely oversold at 24 and we are due for a turn around. Only thing that would be better is if RSI trend turned up and flashed a divergence. It hasn’t so we might li her at this level sideways for a bit.

The chart is showing a very consistent profile as compared to the fundamentals that we are expecting. Namely once the news flow starts around July, tax sell off abates and we get clarity on the DFS, we should have a very strong bounce well into 5-6c territory. With additional resource upgrades from Tansim and Authier and funding/offtake news we could be very rapidly proceeding towards 12-15c. All IMO of course. DYOR.

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So on the US (OTC) market place, ie: where the actual mine, legistlation and affected communities are... Sayona was UP by over 7.5% on the same day it was DOWN over 5% on the Australian market/listing.... It ended only a bit over 3% up, but that's still a 8-11% difference in sentiment and expectation...

Now. I wonder who knows better how to make an accurate assessment of what's on going on the ground... Hmmm.... Hmmmmm....

https://finance.yahoo.com/quote/DMNXF?ql=1&p=DMNXF

SYA Price at posting: 3.7¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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