Let me add here. I am a trader and not an investor ever since. I bought LYC on the following :
1. SP is trending up for about two months. That is even if DJ and AllOrds are down.
2. SP is above 10/20 EMA which is a good sign.
3. RSI is not showing overbought condition.
4. Fundamentals - RARE Earth...no need to explain this.
5. JP Morgan buying. See
http://www.theaustralian.com.au/business/city-beat/jp-morgan-snaps-up-10pc-of-centennial-coal/story-fn4xq4cj-1225862972285.
What a coincidence that they became a substantial holder 4 dys before Banpu's announcement.
Anyway, the above are my trading edges.
I do not know if SP is would go up or down. I have put an ample amount of cash with stop-loss in place based on my own risk management. I am prepared to accept a loss since my trading rules dictate that I have the potential to gain more. I have a target price of $2.00.
As a trader, I buy on the dips when SP is down. I am hoping for another lucky buy. My last good one was CEY.
CEY was bought by Banpu at a price unexpected by most analyst. Valuation was $3.00 and Banpu was buying at $6.20. Who knows what the Chinese or Americans would pay LYC for something that they would only want to control.
Also, I am not a day trader but more of a position trader.
There maybe some truth to screenjockey's charts but that is his chart which I am not using and does not match with my trading period.
As with any speculation, I could be wrong or right so DYOR.
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Last
$6.30 |
Change
-0.050(0.79%) |
Mkt cap ! $5.888B |
Open | High | Low | Value | Volume |
$6.34 | $6.35 | $6.29 | $13.31M | 2.111M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10973 | $6.30 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.31 | 14462 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 421 | 6.530 |
1 | 7000 | 6.400 |
1 | 100 | 6.350 |
2 | 667 | 6.300 |
3 | 681 | 6.290 |
Price($) | Vol. | No. |
---|---|---|
5.990 | 1 | 1 |
6.150 | 56 | 2 |
6.190 | 7 | 1 |
6.200 | 3000 | 1 |
6.220 | 2588 | 3 |
Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
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