focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
End of the week chart review:
Purely by looking at the chart, I have a stronger negative outlook for the results day. Initial pump from 120 to 140 earlier this week looked really promising and I started drawing possible scenarios but… it faded, resistance seems to be firmly at 140, the price doesn’t want to touch 50ema (145p) on 4hr chart.
Most rating agencies have target price at 400 as this is where that massive gap is. Doesn’t mean it’s going to hit it any time soon or ever.
I think I might write off this garbage and make it all back somewhere else. Sitting back, chilling and watching this farce playing out next week.
Happy to be wrong here for all who’s optimistic about trading statement on Tuesday.
I looked at the chart last night long time and 140 seems to be quite a bit of resistance. The price didn’t move quickly enough either way for me to jump in. I was expecting 120 before the update, but now, since it’s unlikely to happen today/Monday, I’m expecting one more dump so potentially lower low on Tuesday morning following the news. Something similar to what happened with ESNT on 23 Oct 2023 and 17 Jan 2024. Capitulation scenario followed by rapid rebound.
Btw.. no, I’m not in the shorts camp. I’m long, heavily in loss and trying to lower avg at the best price possible without getting burnt yet again by this garbage.
But I am in “show me the chart, I’ll tell you the news” camp. Good luck all.. we will make it out of this situation one way or another
I’ll let you look at the context. My opinion is based on charts and patterns. The fact the price rises along with decreasing volume is a slight concern short term (3 days). No question we’re at the bottom and rebound is due after trading statement - that’s provided it doesn’t pump to 170 before then. I’m sticking to my agenda we’re about to go lower until Monday. If I’m wrong.. oh well, if I’m right, I’m buying on Monday
If SYNT goes to 170 before trading announcement, we have a special scenario comparable to CWR (Ceres Power) from today. Massive expectations, poor results. If that’s the case, I’m not touching it till after the results
End of day chart analysis:
Target of 135p from Sunday has been hit. We might see a little pop tomorrow morning by 10am to complete the visible bounce back from the bottom but I’m not expecting it to last. Next step is to print higher low, however we’ll likely revisit 120 or even make slightly lower low by end of the week - this level shouldn’t particularly matter. Anything between 115-125 will be a great buy. 4 full trading sessions to go.
I’ve almost panic bought today but realised what might be happening here.
Quite a few tickers have shifted noticeably today. SYNT jumped really well. I’m now in the position to start buying this week on any pullback so aiming the region of 125 as my too optimistic target of 90 is very unlikely to be achieved in the run up to trading update. 25k into this share gives me 20k shares at 125p a piece. Total 22690 shares at the cost of just over £50k would give me a so-so average of 221 (from current 940p). Wish my avg was closer to 170p though however, 220 is still workable
By looking at the current price action, the little pump didn’t last 1 day. I would really advise everyone to be patient with SYNT as if we make a lower low today, we’re definitely going lower later this week. Keep in mind how fast the price fell last week. Hold your horses until Friday or next Monday
New price target from JPMorgan at 300. That is a 150% increase from current price which, if materialised, might make SYNT one of the best performers in 2024. No question that synt is on its knees on the share price front so rebound is (over)due
6 full trading sessions to go. Next weekend is a decision making one, when you need to know either you want to buy on Monday 29th or sit on your hands. For the coming week, I expect the price to potentially reach 135, then go down to whatever level (90p would be my dream). I’m preparing the funds
Yes, I’ve seen the comment about rapid rebound and I’m supporting that strongly. Look for example what happened with PFC in December. I think we might see something similar here.
I’ve also looked at previous RNS and directors purchases are quite impressive. Obviously, they don’t know whether the price goes up or down short term, however, if someone puts 170k in, that gives a vibe that they do believe in the business.
7 full trading sessions to go, boys!
Just a recap.. we lost 45p since 10 Jan (7 trading sessions). Can we lose another 35p before trading update (target 90p)? I certainly think so!
I know it’ll be painful for a little extra while, just wait patiently. It will recover