Synear: Forming A Descending Triangle
Synear is currently Forming A Descending Triangle. The support is about $0.21 to $0.22 level. Synear is on long term down trend as the 200D MA is slooping down. Watch out for a breakout.
Synear: Still on Down Trend
Synear is unable to break the 200D MA resistance on two occassions and continue its down trend. Do note that 200D MA is sloping down and Synear is currently trading below 20D, 50D and 200D MA. Next immediate support is $0.208 which is at the 23.6% Fibonacci Support level.
Synear may start Down Trend
If Synear breaks the support at $0.222 (38.2% FR Level), a “Lower High, Lower Low” bearish down trend pattern will be seen on Synear. If Synear is able to hold above this support level, A Descending Triangle chart pattern may be formed and we just need to wait for the breakout to determine future trend. Take note that all three moving averages 20D, 50D and 200D MA are trending down.
