LYC has broken a long term downward trend, great news! However, it seems to have trouble with the above horizontal resistance. So now it's important to wait for a retest and LYC finding support. This could be around AUD 2.17 where a gap was left recently and we have horizontal support. Or it could be around AUD 2.00-2.04, which will be a retest of the trendline...
In the business of rare earths extraction, processing & development in Australia & Malaysia (risk). As things heat up with China (who controls rare earths globally) this bears watching. The price is close to the long term trend line. Support & resistance zones in red dotted lines
LYC - Great run, but could retrace as it hits critical resistance at 2.00 Keep an eye on prices in case it falls to 1.815 and 1.625 to go long
LYC share prices surged in yesterday's session after it gapped up during the opening trades and closed at 2.38 up 9.72%. There were signs of profit-taking towards the end of the trading session which saw share prices retreated from its highs at 2.45 and closed at 2.38. 2.30 is the critical support to watch; share prices could head down to close the price gap if it...
LYC - LYNAS CORPORATION shares closed at 2.32 up 2.20% in today's trading session. Share prices bounced back during the opening session at a critical Fib retracement level at 2.20 and rose to 2.38, the highest price point of the day before coming down and closing at 2.31. Share prices could progress to the upside if it holds above 2.30 support.
Don't take this too serious just plotting it to see how the outcome plays out.
Possible big move coming buy the breakout(after a daily close above flag) if it occurs target is around $4 gl!
There are winners and losers in every fight. There are the direct winners of the fight, the ones who lay knock out punches. Then there are losers, those that land bruising blows on their competitors. But there is another class of winners often forgotten; the winners who while the fight is happening pick up the gold teeth and wallets lost by the pugilists. Lynas...
Its got so much overhead i think theyll take her into new lows tbh
weekly set up. Looking for a volume pop on weekly especially bigger than the ones this year
Update to the idea posted on 27 September. As expected and noted the $1.80 region got tested. Fundamentally nothing has changed, we are in a down trend and I still expect the price to go down to $1.425, at which point I will be scaling my long term buys in. This is not withstanding the fact that LYC is still a good swing trade option, as per my call last week...
MONTHLY IS OBVIOUSLY BEARISH DUE TO FUNDAMENTAL NEWS, FINDING SUPPORT ON THE 0.618 FIB LEVEL CURRENTLY. FUNDAMENTALLY A SAFETY REPORT OF LYNAS OPERATIONS IN MALAYSIA WILL BE RELEASED IN 3 MONTHS. WE SHOULD SEE SOME BUY PRESSURE AT THESE LEVELS NEXT WEEK BUT I EXPECT FURTHER DOWNSIDE TO THE 0.786 FIB REGION WHERE MAJOR SUPPORT IS. I BELIEVE THE REGION AROUND...
ASX:LYC Daily Chart of LYC.
Looks like a trend reversal here for LYC. The price pushed past the EMA 15 today and is holding above EMA 200. Should expect a push back to recent highs. Might take around a month for the play to fully run through.
Classic small cap stock break out pattern..... 3 year base break on volume then pull back and break again.