Spyre Therapeutics Inc

In a Stage 2 advance with a medium-term bullish bias confirmed by higher highs and rising EMAs, the recent bearish engulfing on a marginal new high signals buyer exhaustion and overbought stress. Price has rejected at the 9/21 EMA and is pulling back with elevated volume, making current levels unattractive for new longs. We defer buying until a disciplined pullback is absorbed near the rising EMA support zone to participate in the ongoing uptrend.

• ↑Mizuho raised its target from $84 to $120; SYRE hit 52-week high.
• ↑Pending SKYWAY study data could be key valuation catalyst.
• ↓Earnings yield at -1.67% reflects negative operating returns.