LYC 2.90% $7.71 lynas rare earths limited

my predicament, page-28

  1. 1,146 Posts.
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    OMG, sorry to hear that, how annoying! Maybe you should get rorkes to go ramp LCY for you lol :)

    Hopefully it ends up being a profitable mistake for you.

    If you have a look at the opening of 30th Jan, there is more volume in those first couple minutes (at ~14c) than the entire volume for today. So I wouldn't be surprised if that provides a bit of support. If you look back at the last year, there are quite a few peaks around the 14c-15c level too. Again, these could provide support. Could also argue LCY has been in a bit of a trading range since the end of September and the 30th Jan was busting out of the top of that trading range. I can also see it broke out of a downtrend (connect highs of 18th Oct, 13th Dec, 20th Jan). So the 30th Jan could just be big players absorbing the sellers at the top of the trading range and hopefully all the last couple days has been is a healthy little pullback to test the top of the trading range from above before it continues up.

    Definitely think you should put a stop in place at the very least. I'd probably stick my stop around the ~13.5c mark and hope the massive volume at 14c saves me. Good luck whatever you decide.

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