When share price goes more or less sideways after a big up move, it's called consolidation. Think of it as price digesting the gains. Technically it forms what's known as a bull pennant or flag. As the name suggest, it's considered bullish and a technician would expect price to rise again by a value roughly equal to the rise leading up to the pennant. Right now we're at the 200 day simple moving average of price on the daily chart. Technicians consider this price point to be a bear/bull dividing line. This is where bears will put up a fight, trying to keep price below the 200 day. Price closing above the 200 day is bullish. If it stays above the 200 day and continues to rise, that would be very bullish and suggest price will reach the target of the bull pennant. As we've all seen, fundamentals, such as the Malaysian review, does impact price and trumps technicals but we've seen that risk mitigated by the appointment of world class experts to the review panel. We know the science is on our side and with science being used by the experts on the panel, there is near zero risk of Lynas being forced out of Malaysia. IMO, it was the fear of an irrational decision on LAMP operations that was responsible for the drop in price. I now feel good about owning shares in the only major RE producer outside of China.
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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) ? |
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