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
$7.75 |
Change
0.030(0.39%) |
Mkt cap ! $7.244B |
Open | High | Low | Value | Volume |
$7.71 | $7.81 | $7.63 | $12.03M | 1.561M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6556 | $7.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.77 | 3385 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 7.640 |
3 | 20260 | 7.600 |
1 | 3000 | 7.550 |
2 | 2833 | 7.500 |
1 | 2000 | 7.430 |
Price($) | Vol. | No. |
---|---|---|
7.840 | 293 | 1 |
7.850 | 6064 | 3 |
7.870 | 2000 | 1 |
7.890 | 8800 | 2 |
7.900 | 24269 | 7 |
Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
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LYC (ASX) Chart |