I purchased some SYN for $3.92, based on the very high volume from Sep 28. There are things which I like and things which I dislike. I like that two analysts have a buy rating and Zacks Rank is a 2 - buy. I don't like that the stock fell so much since last year. I don't like the gravestone doji from yesterday. I don't like that the company is losing money. The...
SYN has a beautiful historical chart and RSI is oversold/diverging. Taking into consideration historical price action, we can see a nice rally take place here. However, a further confirmation in the form of a hammer candle on high volume is needed. Weekly chart was used for TA.
Price target is bottom of the gap 1.16, although the full gap to fill is 1.43. SYN marches towards that with momentum increasing in line with volume. At this pace, it won't be long before that gap is filled and we can look up to next target area of 1.6-1.8!
This should give us all an idea on when to buy or sell. Barring bad news from FDA
Every time it crosses the bullish trendline, it shoots back up for new highs. Every time it passes 70 on RSI, it shoots down again.