It was to be expected...if we look back to the 26/10 opening 30min, there was an extreme change in the amount of volume and the sp movement from 5.5-6.2. That's a lot of resistance that has to be dealt with in the ST. Unfortunately, despite the rally on Friday, volume was not enough to deal with that resistance zone. 26/10 volume including chi-x was in excess of 70mil - you can't get through that without a significant increase in daily volume (positive volume) - there are a lot of trapped punters, that just want to get their money back - psychology of the market comes into play. You might say, that's a very simplistic way to look at it, and you would be right. With Lynas, it should be accepted as the norm!
LYC Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
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