zAngus

Australia's Lynas posts record annual profit

Long
ASX:LYC   LYNAS RARE EARTHS LIMITED
Rare earth miner Lynas is looking good again on the charts. It pulled back to a previous support / resistance area, and bounced nicely off its 50 day moving average.

Various indicators all looking bullish . MACD / OBV etc about to cross.

Worth keeping an eye on - especially as rare earther.
Comment: Nice 8% move up so far.

Comment: Got back to our target of old highs and SMACKED back down again. I had a look around and there is no ASX Company Announcements and no rumours on what might have caused todays drop on the forums (eg HotCopper). I suspected it has been caught up in the crashing iron ore prices / concerns around the US / UK "alliance" and sub deal being seen as very anti-China and the whole ASX has tanked over 2%+ today. Lynas is back at support. Keep an eye for a bounce and a potential entry - or stay away :)

Comment: There's that bounce.

Comment: Still ranging.

Comment: Like a game of pong :)

Comment: Running strong.


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