will lyc be ..., page-53

cheers guys some good comments

timmo hope all goes well for the LT

It's not that hard to see that of late, LYC has been running out of puff, it's quite easy to see on the chart.

Timmo, as Funky has commented it appears that we may be analysising the recent action on different timeframes. Your comment "..that they took it to 70cents, back to 67cents before support sent it to 68.5c.... if they wanted to test supply why didn't they drive it down further..."

If you take a step back and look outside the intraday movements, you could imagine that on the daily timeframe.. that yesterday was mostly all supply, simply sitting up there waiting for the right timeframe (outside events to their favour etc) gathering or selling into any new buy orders.

Imagine that they work on different timeframes and the immediate goal of theirs amongst the larger ones was to move it up, start to bail out or sell into the feeding frenzy of the happy market. Let their selling fail it lower, collect their ST profits before resuming their course on the larger timeframe. Think of this last week as one movement.

Since that huge gap up day, they then appeared to absorb any selling at that area, BUT SINCE then its weakened or to simply put it, it appears they've started to change tac.

atm, They may not be willing to take on all that supply from over to the left, must be potentially near 100m over there from earlier in the year.

Last three days volume and spread..

37M.. 5cent spread closed half a cent off high
33M.. 3cent spread closed one cent off low
23M.. 2.5cent spread closed one cent off low

and lastly they've pulled it up sitting directly opposite or a tad under a heap of supply from the left, so what happens now.. they gap strongly thru or over this or retrace and collect some ST rewards ?

P.S. cheers snowy..oscar, walter and bambie rule :)