Today's chart & trading, page-2178

LYC lost 4c or -1.52% today.

It jumped up by 1c on open and quickly gained another 1c to day's high of 2.65. Then down to 2.60 with massive volume at 11:20AM. Some investors thought it was a bargain and bought it up to 2.64 at 11:30AM. Note the up swing only lasted 10 min. It gradually losing ground to day's low of 2.58 at 3PM. It appears the day traders and the pros were the bears. Some buying pushed it up to 2.61 at 3:15AM but it didn't hold and closed at 2.59.

Here are the negative signs:

1. Broken down from 61.8% Fibonacci.
2. Fallen out of uptrend channel.
3. Propriety indicator turned red.

What to watch for:

• If tomorrow is not a big green candle that pushes the SP back into the uptrend channel, the downtrend would be confirmed.
• If weakness persists, the 50% Fibonacci at 2.47 is where it's heading to. This is on the proviso that no news from the political scene, whether it is from Canberra, Malaysia or the US/China trade war.