I am on vacation in a different time zone, therefore not posting too much on HC. However, LYC has reached a critical point today and i would like to alert those HC members who would be interested.
From now to 15-Feb-2020, Lynas has to identify and get approval for a PDF site. 3 month is a long time and without further positive news, the SP is under pressure and a double bottom at 2.20 or even 2.18 is quite possible.
The short selling has been quite moderate, far from the likes of 40-50% of daily turnover 4 weeks ago.
Date
Gross shorts 1
Issued capital
% Capital shorted 2
Shorts as % of volume 3
1 Tue 12th Nov, 2019
390,861
695,378,577
0.05%
12.33%
2 Mon 11th Nov, 2019
263,423
695,378,577
0.03%
11.51%
3 Fri 8th Nov, 2019
162,604
695,378,577
0.02%
7.36%
4 Thu 7th Nov, 2019
309,013
695,378,577
0.04%
9.40%
5 Wed 6th Nov, 2019
389,503
695,378,577
0.05%
17.09%
6 Tue 5th Nov, 2019
306,682
695,378,577
0.04%
11.84%
7 Mon 4th Nov, 2019
238,172
695,378,577
0.03%
10.26%
Wed 13-Nov-2019 LYC lost 7c or -2.95% to closed at 2.30.
(1) Closed 2c below 50% Fibonacci Level of 2.32.
(2) It is also 2c below the 200MA line, both (1) & (2) providing strong support.
(3) Failing that, a double bottom at 2.20 or even 2.18 is quite possible.
LT investors might think between now and 2.20 could be good time to accumulate as the upside is 72% to 3.16 and the downside risk is 5% to the double bottom of 2.20/2.18.
ST traders might choose to wait for a retracement and a confirmation before entering a long position.
If it ever breaks down below 2.20/2.18 support, 1.99 is the next minor support and 1.88 the 23.6% Fib level would be a strong support.
I am not a financial adviser, these are my personal opinions which might benefit you. DYOR!
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Last
$7.82 |
Change
0.065(0.84%) |
Mkt cap ! $7.216B |
Open | High | Low | Value | Volume |
$7.81 | $7.83 | $7.66 | $2.489M | 320.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 1511 | $7.81 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.82 | 1989 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 2375 | 7.790 |
25 | 8603 | 7.780 |
10 | 5724 | 7.770 |
12 | 11301 | 7.760 |
12 | 10567 | 7.750 |
Price($) | Vol. | No. |
---|---|---|
7.800 | 3827 | 12 |
7.810 | 13167 | 11 |
7.820 | 9918 | 8 |
7.830 | 9159 | 7 |
7.840 | 18535 | 8 |
Last trade - 11.45am 14/10/2024 (20 minute delay) ? |
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