LYC 0.29% $6.92 lynas rare earths limited

beautiful chart starting to form, page-40

  1. 805 Posts.
    lightbulb Created with Sketch. 10
    A few comments with respect to Lynas:

    1. Market Depth
    - only the first 5 or so rows are relevant (it is pointless looking at total market depth ... many of the bids / asks shares out wide have no intention of trading (the total market is currently skewed towards the bid, but the first 5 slots are skewed towards the sell ATM)
    - on Lynas depth doesn't mean much as many big traders only trade at the market (they don't leave big orders sitting visible in the queues)
    - the only time depth is always relevant is during pre open and especially during CSPA - where there is no such thing as at market
    - if there is a large skewing and the trading is going in the opposite direction (ie against the tide) it is a great indicator of mechanised accumulation / selling going on

    2. Price range
    - the price range at the moment is very tight for Lynas
    - corresponds with a congestion pattern

    It still looks set for a breakout especially with the low volume as well and there are too many fundamental good points to go with it.

    note: as someone else has mentioned a selloff of Molycorp may come from left field and be read as a rare earth selloff for a short while

    Anyway that's enough rambling please DYOR - as each person trades differently

 
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Last
$6.92
Change
-0.020(0.29%)
Mkt cap ! $6.468B
Open High Low Value Volume
$6.95 $6.97 $6.87 $16.72M 2.418M

Buyers (Bids)

No. Vol. Price($)
2 5820 $6.92
 

Sellers (Offers)

Price($) Vol. No.
$6.93 15020 3
View Market Depth
Last trade - 16.10pm 13/09/2024 (20 minute delay) ?
LYC (ASX) Chart
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