Last Thursday/Friday technical trend started to change for Lynas Corporation and move north
The 49 cent price crossed 9 day moving average
The 50.1 cent price crossed 18 day moving average
The 50.2 cent pivot point was crossed
The 50.5 cent price crossed 9 day and 18 day moving average but stalled
I believe the trend will continue to go north today due to closeness of Malaysian election and IMO release of market sensitive information on first confirmed sales to customers
Also the accelerated covering of short selling must start today. The perception of all people exposed to Lynas Corporation shares is that it will definitely trend higher this week
The trend reversal indicators are showing this
The above is my opinion and should not be construed as investment advice
LYC Price at posting:
49.5¢ Sentiment: LT Buy Disclosure: Held
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