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.
Just noticed LYC has formed a descending triangle, with a target...
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 (20min delay)
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Last
$8.34 |
Change
-0.050(0.60%) |
Mkt cap ! $7.801B | |||
| Open | High | Low | Value | Volume |
| $8.28 | $8.38 | $8.22 | $35.57M | 4.272M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 61 | $8.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.35 | 38828 | 3 |
View Market Depth
| Last trade - 16.17pm 02/07/2025 (20 minute delay) ? |
| LYC (ASX) Chart |