SYR syrah resources limited

I will just add my 2c here before trade resumes tomorrow. I am...

  1. 918 Posts.
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    I will just add my 2c here before trade resumes tomorrow. I am not unhappy with fridays trade, the gap was filled and I think that was a good thing. If you are looking longer term, the daily moves are less important and the weekly chart is more significant.
    IF... this has bottomed out and we are expecting positive announcements moving forward, this is a good base for a move upward... IF...!
    In that scenario, I would expect a test of the longer term moving averages above, if the announcements are very positive, perhaps a move above them and they will become support. Looking at my weekly chart, there has been a down trend from $2.68 to below 40c, the downward trajectory has leveled out and is now moving more sideways. There was a divergence in the chart on both the daily and weekly which I see as a very positive signal (see my previous post about this). The RSI has gone from testing and breaching overbought to testing and breaching oversold, now moving toward the middle. There will likely be ups and downs but at the end of the day, fundamentals will mostly decide. All the trading, buying, selling and shorting are inclusive in the chart.
    https://hotcopper.com.au/data/attachments/5951/5951427-7fdd4c09ac14db9d7ef3f727bde3de78.jpg
    In regards to shorting, I am no expert, but I believe fund managers use shorting as a hedge... It will be interesting to see how the data feeds through over the next 4 days, was the buying caused by shorters closing positions? was the selling them re-opening positions? I don't know what sort of time frames they work on. Was it traders just doing their thing?
    I also hear a lot of people claiming charting is ridiculous or not relevant or whatever, but have a think about it. Charting is essential to see how a stock moves, even if you just look at a simple line chart. It tells you whether a stock seems cheap, or at a price that is very high. It shows the history of a stock and you can compare previous announcements with how the price has reacted. But more importantly, we live in a world of AI and algorithms, what do you think is feeding these things? DATA!!! Who do you think is using this advanced technology?.....
    Just my thoughts....
 
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(20min delay)
Last
25.0¢
Change
0.000(0.00%)
Mkt cap ! $260.5M
Open High Low Value Volume
25.5¢ 26.0¢ 24.5¢ $544.5K 2.153M

Buyers (Bids)

No. Vol. Price($)
1 40000 25.0¢
 

Sellers (Offers)

Price($) Vol. No.
25.5¢ 131550 5
View Market Depth
Last trade - 16.10pm 25/06/2025 (20 minute delay) ?
SYR (ASX) Chart
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