SYD Point & Figure Chart Outlook 30/10/2016.

All the trends will come to an end sooner or later, UP or DOWN. In the case with SYD, it’s long term trend, if measured with it’s 12 period monthly SMA is DOWN unless a miracle uplift is on hand tomorrow (31/10/2016) . I doubt that miracle happening in the last trading day of October . Whether or not it gets stuck in a long lasting trading range from here on or decline continues remains to be seen off course. I will utilise a PnF chart to see if we get any clues on this front.

Monthly SYD Chart below showing a highly likely end of month close below it’s 12 period monthly SMA followed by a Daily PnF Chart.


PnF  Tentative Bearish Price Objective x 2 are identical, as shown on the chart which stands at $4.24.



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