@sachz I think you are right. My daily charts shown below support your view.
The first chart shows my two momentum indicators, MOM and WDmom. Both short term (MOM) and long term momentum (WDmom) indicators are flat and close to or at the zero level.
The second chart shows how the SP is in a sideways slightly negative trading channel between 6.6c and 5.2c. I don't think the 6.6c resistance level is particularly strong, but the 5.2c level I would expect to provide significant support. My view is based on the volume recently traded at these levels. I think the SP needs a strong close above the 6.6c level in order to break this deadlock. Note that this 6.6c level is also the 50% fib retracement level for the up move from 1c to 12c. The resilience of the SP over recent weeks while Lithium in general has been under negative pressure is encouraging, but I hope there is some good news on the horizon for SYA so as to break the SP out of its trading range.
SYA - Chart, page-3144
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 (20min delay)
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Last
4.8¢ |
Change
0.001(2.13%) |
Mkt cap ! $488.9M | |||
| Open | High | Low | Value | Volume |
| 4.6¢ | 4.9¢ | 4.6¢ | $4.238M | 89.43M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 2629567 | 4.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.9¢ | 9110806 | 36 |
View Market Depth
| Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
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Last
4.9¢ |
Change
0.001 ( 5.15 %) |
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| Open | High | Low | Volume | ||
| 4.6¢ | 4.9¢ | 4.6¢ | 44264227 | ||
| Last updated 15.59pm 16/05/2024 ? | |||||
| SYA (ASX) Chart |