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Sydney

Sydney Airport - Short term bearishHey guys welcome to my Third chart this week. If your liking the charts so far show some support and give me a follow. Likes and comments are also appreciated. Currently I have SYD as a short term sell. Reasoning I believe we have just finished our third wave with ETF funds and investment companies looking to take profits of this short term run up. This can be track by the current distribution phase (side ways action). Though the next few weeks to months may be bearish I still see SYD airport as a excellent company with over all trends looking extremely bullish. What does this mean for the average joe investor? An opportunity to buy in at a good price on a long term share. If you want to get a better understanding of what I mean by Distribution please see my other charts listed below. Retesting is the reconfirmation that the previous breakout is not a fake out. By retesting previous resistance or support we can confirm that the trend has in fact change. This area is a high probability buy or sell area, meaning the percentage of said area holding is high which makes for a great entry point.
SShort
by davidred