SYA Sayona Mining the ASX listed Canada based Lithium miner, currently trading at $0.215 is at a major support weekly support level of $0.205 and closed below its 26 days moving average of $0.245.
SYA MACD indicates positive momentum as the MACD and Signal Lines are on the Top half of the Histogram and are about to trend higher over the coming weeks. Over the coming two - three weeks, a positive crossover of the MACD over the Signal line (In the Top Half of the Histogram) supported by an upward trend in 14 Days RSI ( currently on a downward trend at 40) is likely to see the stock go past its immediate resistance of $0.30. I am bullish on SYA over the coming 3-4 weeks (although its the fifth most shorted stock on the ASX). It will be interesting to see how the short sellers see it.
