Last Friday and this Monday LYC tracked sideways as profit takers were still in action as mentioned. Any rise got sold down very quickly. Today is a much better day closing up 5c or 1.92%. It opened at 1c better then the buyers moved in and and held the SP at around 2.65 from 10:30AM onward for the rest of the day.
Points to note:
- Yesterday it tested and bounced up from the lower trend line - phew!
- Today it broke above 61.8% Fibonacci level at 2.63 - good.
- If it could break above the mid trend line, that would be even better.
- In the meantime the uptrend continues in a pennant formation.
- 1st projected crossing of pennant through upper trend line is missed today.
- 2nd projected crossing on or before 8-Oct-2019 is still possible for as long as the SP stays inside the uptrend channel.
What to watch:
- Scomo's visit to the US might have a positive surprise which could boost the sentiment.
- If the SP drops out of the uptrend channel, it is likely to re-test the 50% Fibonacci level at 2.47.
Last Friday and this Monday LYC tracked sideways as profit...
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Last
$6.40 |
Change
0.000(0.00%) |
Mkt cap ! $5.982B | |||
| Open | High | Low | Value | Volume |
| $6.47 | $6.48 | $6.34 | $20.28M | 3.161M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12848 | $6.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.40 | 17965 | 2 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |