Like your thinking, it's the inverse of what I said at 2.60 and follows the old maxim of sell when everyone is buying and buy when everyone is selling.
One of the clearest buy signals was all the declared LT holders, until death do we part, that sold down or out last week.
From a FA perspective you'd have to think it's around good value if you have any confidence that LYC will be in steady state production in the next 12 months.
The charts are indicating oversold but IMO while the SP stays under 2.30 the lower targets remain valid. We are almost back in that 1.90/2.10 area that held the SP after the early Jan correction, before a final sell off, so maybe we'll see something similar play out.
Volume is probably the key next week but I like Han's expressions - "volatile" & "fascinating".
lynas, a value investment..., page-18
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Last
$7.76 |
Change
0.060(0.78%) |
Mkt cap ! $7.253B | |||
| Open | High | Low | Value | Volume |
| $7.72 | $7.90 | $7.70 | $22.34M | 2.868M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4481 | $7.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.78 | 14225 | 2 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |