Ivory_Wolf

Bearish potential detected for LYC

Short
Ivory_Wolf Updated   
ASX:LYC   LYNAS RARE EARTHS LIMITED
Detected in the latest scan for the week ended 24-Nov (detailed commentary and full scan results available in the signature below), LYC represents a potential bearish opportunity should momentum continue and newer lows be made past the current position. Depending on risk tolerance, stop loss for the trade would be the high of the recent swing (i.e.: above the high of $6.88 from 21st November) or above the prior resistance level of 31st October (i.e.: $7.14).
Trade active:
As noted in the latest weekly video update for the week ended 01-Dec, trade activated on 27-Nov.
Trade active:
Further update provided in the latest weekly video update for the week ended 08-Dec.
Trade closed manually:
As noted in the latest weekly video update for the week ended 15-Dec, share price bounced heavily off prior support of $6.03 from open of 24-Oct-2023. Important to be aware of key support/resistance levels and observe market reactions around these (remove from watchlist).

View latest weekly video updates:
- www.youtube.com/watch?v=DSRm9KqVd4I (Stocks and bonds - latest scans timestamped in comments)
- www.youtube.com/watch?v=SD0-eMmuta0 (Crypto review)

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