Not sure why everyone is so worked up about TemptingTrade (other than being a bit of a douche). I can't help but note the ghostly disappearance of said poster after a rebound today so who knows if they are serious or not.
But they are not wrong about Lynas being currently overvalued from a purely fundamental perspective (which of course ignores the intangible of market sentiment). TA - which arguably does reflect market sentiment to a degree, also suggests it is overvalued. Personally, I think it is a reasonably good short from this position with e.g. volume not backing current moves and the RSI diverging. The 7.80 support would be an obvious target. It would probably be a good sell from a long perspective as well is you had a shorter time frame and were looking to book profits.
It just depends on your trading goals and time frame. If you have a long term perspective on this stock (e.g. 5-10 yrs) then these daily/weekly price fluctuations mean very little. I am also dubious about a couple of posters on HotCopper being able to meaningfully move the price of a stock with almost 1 billion shares outstanding.
Just think this place should be a free exchange of ideas rather than an echo chamber.
LYC: Insanely overvalued, page-120
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Last
$6.56 |
Change
0.050(0.77%) |
Mkt cap ! $6.131B | |||
| Open | High | Low | Value | Volume |
| $6.51 | $6.59 | $6.49 | $8.348M | 1.273M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 16304 | $6.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.56 | 2708 | 2 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |