The reason why I think the downtrend has ended is because there...

The reason why I think the downtrend has ended is because there usually is an ending pattern to downtrends.
The ending pattern on SYA looks similar to ASN.


I was reluctant to be overly positive in my first post because we don't have full confirmation that the previous downtrend has ended yet. The share price needs to go higher than 7.2c for that.

The head and shoulders pattern which I talked about is actually very common, so it is highly likely to occur on SYA because the first shoulder and head have already been created.

My price target of 20c is based on the 50% fibonacci retracement of the last downtrend.



Using a 161.8% fibonacci extension and basing it on the first shoulder, we can see that the current uptrend has another supporting factor to show SYA could go to 20c.




I wouldn't worry about the share price action today. It was natural for the share price to take a retrace. This is the hourly chart.


We can see that the share price moved over 100% of it's previous uptrend leg and then retraced.