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.
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Last
$6.88 |
Change
-0.040(0.58%) |
Mkt cap ! $6.430B |
Open | High | Low | Value | Volume |
$6.92 | $7.05 | $6.83 | $13.27M | 1.918M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 966 | $6.87 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.90 | 18661 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2367 | 6.860 |
1 | 6556 | 6.850 |
1 | 13653 | 6.840 |
4 | 34685 | 6.830 |
6 | 32587 | 6.820 |
Price($) | Vol. | No. |
---|---|---|
6.900 | 18661 | 4 |
6.910 | 10240 | 1 |
6.920 | 10240 | 1 |
6.930 | 10240 | 1 |
6.950 | 23444 | 1 |
Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
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LYC (ASX) Chart |