A strong day for LYC closing 8c up or 3.04%. The SP went North...

A strong day for LYC closing 8c up or 3.04%. The SP went North from the word get go. The day traders pushed one last time at 2:02PM to today's high of 2.75 before selling to close their positions. Gradually falling to 2.70.

A large iceberg order at 2.70 has put a floor on the SP in the afternoon. At one stage there were 38 buyers queuing behind it. The buying interests have come back since the SP bounced up from the new trend line yesterday.

LYC is now looking much healthier:

• Today's strong green candle pushed the SP back into the uptrend channel.
• It flipped the short and long term Stochastic indicators to cross upwards, plus the MACD is now above 0, uptrend resumes with conviction!
• The recent low of 2.59 redefined the uptrend channel with a shallower angle. Having SP bounced up from lower trend line, it always attracts those investors who want to "buy the dips".
• Today's peak punched through the midtrend line which is another positive.
• Now it's well cleared of the 61.8% Fibonacci, the next target is 78.6% Fibonacci at 2.86.
• The original projected point of exit from the pennant formation around 08-Oct-2019 (green flag) is still doable.