gary_trades

LYC Bullish move above 2020 high

Long
ASX:LYC   LYNAS RARE EARTHS LIMITED
LYC broke it's bull flag patter at end of July and is now set to break it's 2020 high and then the chase is on for the 52 week high ($2.95) with the 1st profit target being the Fibonacci level of 0.786 which is a $2.73 share price. Recent supporting bullish activity on the chart is the golden 50 and 200 moving average cross occurring. Add to this that rare earths sector which LYC operate in is currently in flavour as well. My opinion is bullish on this with a 1st proft target of $2.73 before some consolidation and a run towards the 52 week. This is only my opinion and you should always do your own research before investing.
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