SYR Chart

Looks like no one has bothered to start a chart thread for Syrah so thought I'd throw one up and get it started.

I am liking the MACD divergence back in the early part of 2017 which preceded the rise back to $3.40. Recently, the MACD has started to curl back upwards and is about to cross bullishly, telling us that momentum is about to shift to the price appreciation side. In addition, a beautiful Dragonfly Doji has signalled a confirmed bottom to the SP last week (see: http://www.investopedia.com/terms/d/dragonfly-doji.asp).

I believe the sell down on a 1.5-2 month delay in production was precipitated by the huge amount of outstanding shorts on the stock and trying to suppress the SP one last time before everything is complete. These shorts will have to cover soon if they want to avoid the risks of a re-rating based on the final grant of a mining license, no more delays in production and cash being sufficient into cashflow positivity. This has been exacerbated by first Macquarie and now Aberdeen taking substantial interest in this soon-to-be miner. Shorts are playing a dangerous game here at this late stage of the game. Longs may have a substantial short-squeeze to look forward to if all goes right.

There is still a lot of lifting to do, but there are all the signs here of a reversal. Much closer to the bottom than the top imho.