Technical analysis by TradingNomadic about Symbol SYN: Buy recommendation (12/1/2024)

Seems to be the sign of strength move here on SYN , with a measured move from the ascending triangle on our daily, that would take you into the top of the range. Typically this is where you would expect a partial decline / consolidation while supply is absorbed. Assuming this is correctly identified, you would expect a second test of the range high which confirms the partial decline, and statistically favors a breakout there after. You would expect to see rising volume and strength into the second test, and escape velocity taking you into extension levels. The measured move finds confluence with the 1.618, and could very well be where we end up in time here.