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.
- Forums
- Charts
- descending triangle target 29.5c
Just noticed LYC has formed a descending triangle, with a target...
-
- There are more pages in this discussion • 78 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
|
|||||
Last
$6.41 |
Change
0.040(0.63%) |
Mkt cap ! $5.991B |
Open | High | Low | Value | Volume |
$6.45 | $6.49 | $6.40 | $13.34M | 2.079M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 13384 | $6.41 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.42 | 13471 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 13384 | 6.410 |
2 | 12123 | 6.400 |
4 | 37833 | 6.390 |
5 | 22824 | 6.380 |
6 | 10221 | 6.370 |
Price($) | Vol. | No. |
---|---|---|
6.430 | 7812 | 1 |
6.450 | 500 | 1 |
6.460 | 14808 | 3 |
6.470 | 14342 | 2 |
6.480 | 11442 | 2 |
Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
Featured News
LYC (ASX) Chart |