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SYR - SYRAH RESOURCES LIMITED


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Hello Oppies

 

I did hedge my bets......possible breakout or retrace to 3.40 support

 

volume seemed ok.. not as good as the 1.2m vol. back in March when it gapped up

 

when that 60+k sell orders were taken out at $4 on thursday, it was time to buy.... I was conservative and waited for the daily close on

 

breakout candle.. had to leave early to play golf on Friday and missed the market for most of the day.. missed an entry

 

hope for a test of $4 level and if it holds an entry sometime next week.. if it fails an entry at 3.40 if it retraces that far

 

if this is a breakout, 4.70-4.90 might be possible

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Wow, what an impressive run over the last week or so. Once it broke resistance at $4 there was no turning back. Some profit taking late yesterday but a pause was not unexpected. Hopefully it will consolidate now around $4.50. Makes me wonder if something is brewing, or if the market is just waking up to SYR's potential.
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It should be an interesting week for SYR.....how it opens on Monday will be of interest for traders

traders will be hoping for a pullback to a couple of support areas....412-418 Fib and sup area. or maybe down to 402 fib and sup.

any good news next week could see this push on to the $5 level. I won't enter at this level but will on any pullback

 

it is great to see there is not a lot of ramping on this thread....I guess the long term holders know how good the company is and

the traders are skimming a little bit of cream on the way up.

 

"I'll take those odds Sdjai. I'll put $10k on it." did you get that bet on Optionsman ?

 

post-10244-1404609296_thumb.png

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ha ha, of course we haven't heard from salts or sdjai since then, so no they haven't paid up. That's OK I am making a lot more on the shares themselves. Maybe they went short on SYR? That would be funny.

 

My 12 month price target for SYR remains at $15.

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Glencore takes close look at Syrah Resources

 

PUBLISHED: 0 hour 9 MINUTES AGO | UPDATE: 0 hour 4 MINUTES AGO PRINT EDITION: 11 Jul 2014

Amanda Saunders

Swiss commodities giant Glencore is understood to have made an informal approach to Syrah Resources that could value the graphite and vanadium junior at up to $2 billion.

 

http://www.afr.com/p/business/companies/gl...kZH91bO4dbOGyZN

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