I mentioned in my comment 2 days back when SYR was hit on the...

I mentioned in my comment 2 days back when SYR was hit on the 1^st day that I’d be surprised if shorters did not hit very hard that day.
As we can subsequently see, shorters did hit hard with a “red” day (0.5% or more capital shorted) on 30^th accompanied by a further massive 1.18% (4 million) shorted the next day.
https://www.shortman.com.au/stock?q=syr

Today was yet another day of high volume fall.
As I mentioned in my earlier comment and have been mentioning since 1-2 years, IMO shorters are unlikely to lose this war and is one of biggest risk for SYR investors, and best bet for investors is that they decide to cover and move on.

I’ve also spoken of the bearish descending channel in my last comment and most comments in 2018 which I have called the dominant theme of 2018 for SYR. (Draw parallel lines from March 2018 to see what I mean)

Well surprise, surprise – price seems to have once again landed almost exactly on the channel line.
Explanation below -
https://stockcharts.com/school/doku...sis:chart_patterns:price_channel_continuation

Keep in mind that the channel had already broken down around October when SYR first collapsed hard to around 1.4. This time since the channel line keeps sloping downwards, this 1.44 close seems just on the channel line (with an opportunity for a bounce), unlike in October where it was a break. Same concepts will apply as I’ve explained from June-October of a bounce or further hard collapse (like we saw when SYR broke the channel in October).

Interestingly, we are also arriving the final key support level of 1.4 again which I’ve mentioned in earlier comments. SYR has the opportunity to make a triple bottom, and rise up again. Alternatively, of course, it would mean failure of old support level and further hard collapse.

So overall, it should be clear that multiple support levels seem to be converging and SYR price is at major cross road again.

Good luck