SYR.AX falls to lowest close since August 29, 2017


Syrah Resources (SYR.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SYR.AX closes lower for the 7th day in a row
SYR.AX breaks below previous session low
SYR.AX falls to lowest close since August 29, 2017
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving lower for the 7th day in a row, SYR.AX finished Thursday at 2.73 losing A$0.07 (-2.5%). Today's closing price of 2.73 marks the lowest close since August 29, 2017. Closing below Wednesday's low at 2.75, the stock confirms its breakout through the previous session's low having traded A$0.05 below it intraday.

Daily chart for SYR.AX
Volatility

Thursday's trading range was A$0.10 (3.6%), that's below last trading month's daily average range of A$0.13. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way above average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Syrah Resources
Condition Forecast Direction Win Avg Worst Best Events
Closed below last periods low TQ Pro Members Only
6 Consecutive Lower Closes TQ Pro Members Only
Black Candle TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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