Going long, price needs to respect 20 day MA. Expecting price to chop around the $1.5 before continuing. Also observing the cup pattern and break out at the handle.
SYR is a stock with a lot of upside potential. It is currently pulling back towards its bullish pennant and to the support zone between $1.060 - $1.140, where I will be looking for a potential buying opportunity once bullish price action is confirmed. Lets see how it develops.
Please note these are my own notes, by no means trading advice. Please do your own...
ASX:SYR, has lost the enthusiasm of investors since the plunge from the 6$ levels. Everyone was thinking it is a dying stock. It dropped to the abyss towards 0.150$ during the Covid crash in March 2020. But is it time to reboot this dinosaur and prepare the entry for a multi-bagger potential speculation? Lets dive deep and analyze.
ASX:SYR has not been on my...
Interesting times are here. I do not trade companies with operations outside Australia. It is just a part of my risk management process. But for those who are following it, this cannot get more interesting. Crunch time. Yellow dotted line is the LT trendline (down) red dotted lines are support/resistance zones. Wait for the breakout
After breaking out of a Cypher Syrah seems to have made Sub A... Syrah should be building an ABCDE triangle but what threw me off originally was the move between A and B, where i have now established a WXY zigzag inside of it, and remains to be valid. If im rite Syrah should see a breakout to 1.25 aud... in this case B needs to hold !! if not it could see 86 cents...
With this stock i'm looking to go long just due it's 52 week low and it has formed a bear hammer at the bottom, this might be the bottom for this stock. With the EMA, the 13 and 50 ema and MACD are all in a downtrend on the daily chart. Same goes with the weekly as well, however we might see a bounce off to the 13 EMA as a rally.
The market should be opening higher today just due to oversee market, this is why i'm buying SYR. SYR has formed a bullish doji on it's support and it has hit it's 52 week low as well. This is the trade i'm looking out for today.
see chart.
lots of volume at the bottom of the chart and a higher low put in...
ultimately I would want to see breach of 100MA but good risk reward here
Emailed news gave it a push. Will we make a double bottom or break $1.30 and extend the 5th. Lets see how it plays out !
Dear Shareholder,
Syrah Resources Limited (ASX: SYR) (“Syrah” or “Company”) provides an update on the repair of the Primary Classifier Unit:.
Replacement Primary Classifier Unit has arrived on site and been placed into position.
Remaining...
