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.
- Forums
- ASX - By Stock
- day traders thread
Let me add here. I am a trader and not an investor ever since. I...
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LYC (ASX) to my watchlist
(20min delay)
|
|||||
Last
$6.74 |
Change
-0.080(1.17%) |
Mkt cap ! $6.300B |
Open | High | Low | Value | Volume |
$6.83 | $6.85 | $6.67 | $15.08M | 2.242M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 70897 | $6.74 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.75 | 3296 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 70897 | 6.740 |
1 | 297 | 6.720 |
3 | 4155 | 6.700 |
1 | 14985 | 6.690 |
5 | 19981 | 6.680 |
Price($) | Vol. | No. |
---|---|---|
6.750 | 3296 | 2 |
6.790 | 3000 | 1 |
6.830 | 4565 | 2 |
6.880 | 500 | 1 |
6.890 | 5190 | 1 |
Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
Featured News
LYC (ASX) Chart |