Bundy, I stalk the RE sector and have this to offer.
Capsule statement: the REMX in USA is an etf that comprises a variety of technical metals. RE comprise less than 20% but its fund mates are Li, Co etc. The REMX weekly chart on StockCharts has a 2-year 5-wave rally with a massive RSI neg divergence at the top and now the abc correction is in full swing. I target chart levels seen in Q2,2017 for the wave c endpoint. (That's the TA nutshell.)
The FA? I believe the Greenback has had a big say here. Metals drop when the USD rises as we all know. Trade geopol could also be a factor because China has the whole RE supply chain covered. The West hasn't.
The ASX:Lynas chart seems to closely mimic the REMX chart and its sell down is also well underway. 180+ cents is my LYC wave c target.
The LYC board on HC is active with a lot of retail bulls and a few frequent posters with deep insights in the industry - but they are not sure either. See the REMX thread and, in particular, HC post # 33799488.
US-centric HC-type boards/blogs might cough up some reasons. Try Seeking Alpha.
Bundy, I stalk the RE sector and have this to offer. Capsule...
Add XSO (ASX) to my watchlist
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3,001.9 |
Change
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| Open | High | Low |
| 2,976.3 | 3,002.5 | 2,976.3 |
| XSO (ASX) Chart |