This. A drop back to ~$7.80 from here (~16%) wouldn't even be exceptional in the last 12 months of LYC trading. It's happened at least twice already that I can see from a cursory glance at the chart. Trading on mean reversion can work, but it isn't a genius strategy.
That said, any long term holder trying to profit from a 16% decline will get beaten up by the taxman on both ends of that trade such that the risk-reward is not worth bothering with for most. Certainly not me and certainly not with the number of potentially good news announcements in the next year.
LYC: Insanely overvalued, page-127
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 (20min delay)
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Last
$6.09 |
Change
-0.130(2.09%) |
Mkt cap ! $5.692B | |||
| Open | High | Low | Value | Volume |
| $6.12 | $6.21 | $6.09 | $15.72M | 2.568M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 52453 | $6.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.11 | 8000 | 1 |
View Market Depth
| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |