SYN 0.00% 0.1¢ synergia energy ltd

syn manipulation

  1. 4,501 Posts.
    lightbulb Created with Sketch. 6945

    Am I being paranoid or is SYN being pushed down deliberately.
    I have watched the md screen the last two weeks and it certainly appears that someone with a lot of shares is doing a very good job on the share price.
    Almost every day sellers disappear and reappear a bit lower down & new sellers with not overly ambitious amounts come in and form another layer below the previous day’s line up.
    I get the impression that they are not really trying to sell rather it seems more designed to stop the buyers from pushing the sp up.
    There have not been many trades nor has there been much volume, but on quite a few of the days in the last couple of weeks there have been small amounts crossed either on the open or at the close which makes me think that it is a broker doing the work.
    Today was no exception. A small amount crossed on the open & a sale after the close to make another lower close.
    If it was just small traders wanting to get out wouldn’t they just sell at the bid price during the day or on the open?

    The story reads very well, they have a working prototype of their new display technology & the company is supposedly in talks with the right people so what’s going on?
    They just paid up for more of Panoramalabs and have the right to acquire 44%.
    Rumour has it that they are trying to get 51%.
    If that’s true then at a guess I would say that it is being forced down in anticipation of them either getting 51% control soon, or someone is going to get a cheap placement to help pay for the further acquiring of Panorama.
    If the above is true then it is also unlikely that they will make any meaningful announcements in regards to any license deals of their new display technology or any other agreements etc until they do get the control & who knows how long that will take so I guess SYN will just keep going down until the big boys decide they will support it again.
    The weekly chart looks to be getting nearer to an oversold position but has a bit further to go yet. A price of $2.70 - $2.80 seems likely at this stage.
    With about 10 weeks to xmas its looking doubtful if it will get back up around $4.00 before the new year but I hope I am wrong.

 
watchlist Created with Sketch. Add SYN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.