Just noticed LYC has formed a descending triangle, with a target price of ~29.5c if the major support at ~55.5c breaks. Since first hitting the major support level, the share price has revisited this level at progressively closer time intervals and obviously made lower highs between visits. Not a great sign for higher prices. There was mention of the next support level ~47c. However, I suspect this could just be a bull trap in a major shakeout and add momentum to any fall if long stops below 47c are triggered. Also, LYC doesn't really get out of bed unless there's a major announcement, and there's none as far as I can see on the immediate horizon. Quite surprised when I noticed this pattern and its associated price target. Hope I'm wrong for the sake of the long suffering shareholders.
descending triangle target 29.5c
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Last
$6.20 |
Change
0.110(1.81%) |
Mkt cap ! $5.692B |
Open | High | Low | Value | Volume |
$6.10 | $6.21 | $6.09 | $4.527M | 738.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 13415 | $6.20 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.21 | 21012 | 18 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 10700 | 6.190 |
20 | 12721 | 6.180 |
14 | 37105 | 6.170 |
12 | 38600 | 6.160 |
9 | 90048 | 6.150 |
Price($) | Vol. | No. |
---|---|---|
6.200 | 6894 | 16 |
6.210 | 41471 | 18 |
6.220 | 56233 | 16 |
6.230 | 27101 | 14 |
6.240 | 87882 | 9 |
Last trade - 11.44am 31/07/2024 (20 minute delay) ? |
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