Tyro Chart Analysis, page-1349

Well good news is that this TYR after hours print was not someone trying to short the stock because yesterday only 73,095 went short on it. So it's a definite long, we just don't know if it's a profit taker, someone cutting losses, or a value buyer adding to an existing position or entering a position.

Being a Friday I still would be apprehensive to short when this is very close to support, and now further away from resistance. This makes the risk reward not ideal to the short side for short term trading. As per the short term, attached is a chart of the 5 mins showing some form of a base, after shorts have been adding in from the recent highs. The better way to do it! Not shorting at 79 or 80c when there's little meat there.



We can see they have been adding again since 9th January they are barely up in profit, and would atleast be taking some profits here for anyone short term. Larger players of course don't care however we have seen many times Institutional people being wrong, or adding too big close to supports. Prime examples could be BRN, IMU, ZIP and a handful of others who saw stocks spike as shortsellers added to losers etc causing temporary price spikes which have been fantastic for longs to catch. Counter trend trades seem to really be working well if I must say so (atleast for me personally)




Finally the Daily chart so far showing 81c this Friday. The monster spike in the shortsell data is from 14th October 2024 1 day before the TYR gapdown. They have aggressively been adding ever since, and again as of 9th January have recently started added again. If I am to guestimate, their dollar cost average on the short isn't exactly that great over the grand scheme and with a Daily chart attached below I would once again be apprehensive in taking any large short position here unless they know something again or don't mind a drawdown on it? Stay cautious all, the stock is definitely in a long term downtrend nonetheless getting into a descending wedge. Hard to tell how high they could spike it before a probable dump again.

For a short, I would be interested at watching 85c to 87c levels as they coincide with horizontal and dowtrending resistance levels, but realising another level is not far behind at the low 90c areas where the real patient shorts would want to add at for better risk reward. Patience game all round I say ! Be selective and pick your shots when you have some form of an edge on your side. There is volatility here, but atleast not as fast or sharp as other stocks so it's more slower, which seems to suit the swing trading better IMO. GLTAHz long or short! So far, yesterdays 2M 80c print may be defending prices and was a long adding/buying? Too early to tell! Should I try small size counter trend long at 80c too? Hmmmm