Hello all! Hope we enjoyed our long weekend break Having a look...

Hello all! Hope we enjoyed our long weekend break

Having a look here in the SYR Charting threads, I was quite shocked because I couldn't see a single chart posted this page except for Shortsell Data! Unimpressed haha nonetheless I have sketched out a chart below with some basic thoughts attached. Happy for some critiques and other perspectives on the data available to us all

The pattern currently being seen within SYRAH's bigtime downtrend is very similar to that of PNV. I did a chart on it just yesterday and PNV dropped another -5% shaving over 10% of the stock price.



As we can see below I have posted SYR's chart which was made 15mins before markets closed, comparing the chart with yesterday's PNV chart for illustration purposes regarding an observed pattern.

PNV was predictable, aswell as low-hanging fruit. It is worth keeping SYR on watch as it may also produce a multi-day sell-down especially if 48c gets taken out tomorrow, putting a retest close to the recent bottoms it's been trying to put in the 44c range



Hourly chart also shows 3 rejections of the 150 & 200 longer term EMA's
Also note on the chart there are 4 early sell signals, with the Short Term EMA's sloping down before multi hour selling
Today we have seen the 4th downwards sloping of hourly EMA's on the short term indicating further seller pressure for the time being (according to chart data)



Yes, I am known to generally be a "short term" guy within the markets with a certain level of patience and generally adhering more to trading principles as opposed to investing. I thought it might be fair to also include a longer term outlook through the Weekly Chart Below (yes I realise the week has NOT yet closed)

33c is a zone worth keeping an eye out for, as SYR's trend is down and is using former supports in the 58c, 55c and 53c (Lower Highs pattern) as current resistance zones acting as more supply.

Volumes are showing more liquidity than ever before! This is due to continued supply via long term holders, short sellers and everything downtrending markets attract.

Current Weekly chart (halfway into the week) has shown to spike off the lows but followed it down with immediate selling, not able to hold it's gains despite news just 48hrs ago. Market reaction and trend are crucially important to respect IMO as markets will teach otherwise.\

Due to trend & technicals aswell as concerning financials even from current holders, mysentiment is SELL .

Sentiment should never be considered as personal financial advice! If so, see a dictionary. If not convinced, see a shrink.