Not sure why everyone is so worked up about TemptingTrade (other than being a bit of a douche). I can't help but note the ghostly disappearance of said poster after a rebound today so who knows if they are serious or not.
But they are not wrong about Lynas being currently overvalued from a purely fundamental perspective (which of course ignores the intangible of market sentiment). TA - which arguably does reflect market sentiment to a degree, also suggests it is overvalued. Personally, I think it is a reasonably good short from this position with e.g. volume not backing current moves and the RSI diverging. The 7.80 support would be an obvious target. It would probably be a good sell from a long perspective as well is you had a shorter time frame and were looking to book profits.
It just depends on your trading goals and time frame. If you have a long term perspective on this stock (e.g. 5-10 yrs) then these daily/weekly price fluctuations mean very little. I am also dubious about a couple of posters on HotCopper being able to meaningfully move the price of a stock with almost 1 billion shares outstanding.
Just think this place should be a free exchange of ideas rather than an echo chamber.
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Last
$6.10 |
Change
-0.055(0.89%) |
Mkt cap ! $5.757B |
Open | High | Low | Value | Volume |
$6.21 | $6.22 | $6.09 | $2.613M | 423.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 8963 | $6.09 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.10 | 8677 | 24 |
Last trade - 11.29am 29/07/2024 (20 minute delay) ? |
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