Re the above chart:
If the price falls back below the resistance line, this will result in having made another recent high which will be beneficial.
Most formations need a minimum 3 touches on each line. Although 2 will suffice on a channel and this is all it has now, (2 together counts as 1) 3 would be better.
If that happens it will also give credence to a new trend forming by making more higher highs and higher lows, providing the price doesn't fall below 12.5 cents.
However If the price doesn't fall back from here but goes up, I have shown resistance prices.
SYA Chart, page-1268
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2.3¢ |
Change
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Mkt cap ! $236.7M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.5¢ | 2.3¢ | $337.1K | 14.25M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
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| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 5943785 | 11 |
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| SYA (ASX) Chart |