Day Tradexchange Inc. (SYNJ)

[Schmedrickk]

SYNJ Chart and T/A Update...

Well, what a refreshing change today was huh? I have to admit it was getting pretty boring for a while there, but SYNJ came through for us once again. The resilience of this stock never ceases to amaze me, just when you think it is out of gas, BAM, right out of nowhere it regains a nice upward momentum.

Speaking of momentum, we must give credit where credit is due. I believe the renewed excitement in this stock today was primarily due to the incredible DD that was uncovered by many of the SYNJ shareholders. The connections that have been made of company board members to other companies was truly impressive, especially Sensi in China.

What I found most encouraging about this new DD was all of the websites to these various companies are not fly by night hack jobs, these are real companies with real businesses and revenues. Let's see if all of you DD hounds can dig a little deeper and find more information. What is also extremely encouraging about this is, it will continue to generate increased interest in the stock, as well as the trading momentum. Hey, if the company won't tell us anything, we'll just go find it ourselves, lol

And with that, let's jump into some charting to see where we are, and where we might be going. I thought I would give you all a treat tonight and provide you with not one, not two, but three charts to take a look at. Due to todays action there are several potential key developments that are better explained on multiple charts.

Chart 1

I mentioned yesterday that based on all of the combined indicators we had on the chart, I had a feeling that we would see a nice pop in the stock price today. I felt that we would close at .0024 before we ran into short term resistance. We actually nudged up to .0025 right into the resistance zone before closing at .0024. When I saw the closing price I just about fell off my chair in disbelief, talk about a stroke of luck! To be fair, again, I believe the majority of the action today was generated by the excellent DD of the SYNJ shareholders, so they deserve most of the credit.

The 5 and 10 Day Moving averages continue to drift. The 10 day MA is most definitely acting as resistance, it is very clear by looking at the chart that this is the case. We are going to need some pretty good momentum to break this resistance and continue the march upwards in price.

The Center Bollinger Band Line came through for us yet again, and in fine style. The stock briefly dipped below the center line and popped right off it, it is just textbook how the stock continues to react to this center line. Test it, touch it, and pop right off it, simply amazing.

The green candle today is engulfing the red hammer from yesterday by a 4:1 ratio, you can clearly see this just by glancing at the two candles side by side. Although the last time we had a bullish engulfing candle, the stock didn't respond well to it, we should have a better chance of the stock reacting positively due to the 4:1 ratio of how todays green candle is engulfing yesterdays red candle.

The Fast Stochastics are staying true to form, touching down to about 25 - 30, and are now starting a new uptrend. It's really amazing behavior with some of these indicators if you study them over a period of time, history really does repeat itself.

Chart 2

A few other chartists have identified this pattern, and I thought it was worth mentioning again. It appears we may finally have a reversal of an overall 3 week downtrend. Although it will take a couple of days to confirm this reversal, it is a very encouraging sign to see. This should be closely monitored for confirmation of a trend reversal.

Chart 3

With this chart we are going to explore some more advanced charting techniques. I saw this pattern yesterday but I didn't mention anything about it because I wanted to see the results of todays trading first. This is a very rare pattern that most stocks never see for years if ever. It is known as a Diamond pattern, and these have been known to be incredibly bullish reversal patterns. The pattern is not perfect by any means, it would be nice if the shape were more of a true diamond pattern, but it is there. You can see how the stock popped right off the right hand corner of the diamond, pretty wild stuff huh? Textbook!

Summary and Predictions

Overall we have a lot more positive indicators on the charts today than we did yesterday, this is very encouraging as we look to the future. The amazing DD that was performed today is equally or more encouraging than the charts, but the two do go hand in hand. We are at short term resistance now, so we're going to need to push our way up through it before we see a solid run into the .003's.

At this point I can't predict the next price target because of the resistance level we are facing. We will need to see a few more days of action, as well as the trend reversal confirmations we are hoping for. So let's just see how we do for the rest of the week.

OK, here are the charts, I hope you find them informational.











Happy Trading