Just noticed LYC has formed a descending triangle, with a target price of ~29.5c if the major support at ~55.5c breaks. Since first hitting the major support level, the share price has revisited this level at progressively closer time intervals and obviously made lower highs between visits. Not a great sign for higher prices. There was mention of the next support level ~47c. However, I suspect this could just be a bull trap in a major shakeout and add momentum to any fall if long stops below 47c are triggered. Also, LYC doesn't really get out of bed unless there's a major announcement, and there's none as far as I can see on the immediate horizon. Quite surprised when I noticed this pattern and its associated price target. Hope I'm wrong for the sake of the long suffering shareholders.
descending triangle target 29.5c
-
- There are more pages in this discussion • 78 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LYC (ASX) to my watchlist
|
|||||
Last
$6.29 |
Change
-0.125(1.95%) |
Mkt cap ! $5.879B |
Open | High | Low | Value | Volume |
$6.31 | $6.34 | $6.27 | $2.633M | 418.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
29 | 12527 | $6.28 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.29 | 16197 | 55 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
29 | 12707 | 6.280 |
18 | 29140 | 6.270 |
14 | 29615 | 6.260 |
16 | 12363 | 6.250 |
8 | 24809 | 6.240 |
Price($) | Vol. | No. |
---|---|---|
6.290 | 16484 | 57 |
6.300 | 29403 | 35 |
6.310 | 25478 | 18 |
6.320 | 9587 | 14 |
6.330 | 22715 | 8 |
Last trade - 11.24am 10/07/2024 (20 minute delay) ? |
Featured News
LYC (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online