Today's chart & trading, page-2186

LYC survived selling pressure and closed at 2.72, up 1c or 0.37% today.

It was initially sold down to 2.66 at 10:45AM which accounted for 1/4 of the days' total volume. Then 2 iceberg orders at 2.66 and 2,67 provided a floor. It looks like these are keen buyers who are hungry for the stock at a good price. They have been accumulating a massive quantity in the last few days. The SP redeemed itself and made today's high of 2.73 at 1:50PM. It softened a bit while waiting for the RBA announcement of interest rate at 2:30PM. One a cut of 25 basis point was announced, the market sentiment improved and it closed with a gain of 1c.

Today's SP made a green candle with long tail as it survived the selling pressure. Therefore it is another good sign.

What to watch for:

• After yesterday's big green candle, the SP might take a breather.
• Next few days could be in narrow trading range.
• Direction largely influenced by the ASX200 index in the absence of any news.
• These are all healthy signs as it needs to consolidate to gather strength to crack the midtrend line and the downtrend line.