First thing first, my apology in less than obvious yesterday saying "closing at a new low of 2.64. This is a negative". The whole paragraph was talking about intraday SP actions. Next time, I would say "intraday low". Thanks for pointing it out @ausheds
LYC suffered a loss of 11c or -4.17% closing 2.53.
Following a very negative lead from the US market again, it gapped down to 2.60 on open and continued losing ground to hit 2.54 at 12:35PM. At 1:46PM, the day traders rushed to close their positions and pocketed 6c (2.3%) for 4 hrs of work! The last 2 days' slide was a combination of investors wanted to cash out and stay on the side line, and others wanted to lock in their 10-15% profit from the August low of 2.20. The SP continued to be sold down and closed at the day's low of 2.53.
What now?
- The ST uptrend is no longer applicable and removed from the chart.
- Good time to stand back and look at the weekly chart, a 6 month uptrend (purple lines) is plotted which provides some ideas on how LYC would track if the game is fair.
- Projected end pf pennant at around 09-Dec-2019.
- The ST and LT Stochastic, MACD have crossed to the downside, RSI is now below 50, all pointing to a weakening SP (statistically).
- The next support is the 50% Fibonacci at 2.47, then a solid support line at 2.45 which are not too far away.
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First thing first, my apology in less than obvious yesterday...
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Last
$6.06 |
Change
0.140(2.36%) |
Mkt cap ! $5.664B |
Open | High | Low | Value | Volume |
$6.02 | $6.12 | $5.97 | $11.52M | 1.904M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 12791 | $6.04 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.07 | 13019 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 14538 | 6.000 |
2 | 134 | 5.960 |
1 | 100 | 5.920 |
2 | 10167 | 5.900 |
2 | 10033 | 5.890 |
Price($) | Vol. | No. |
---|---|---|
6.070 | 3000 | 1 |
6.100 | 7705 | 1 |
6.110 | 3000 | 1 |
6.120 | 7365 | 4 |
6.130 | 3000 | 1 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
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LYC (ASX) Chart |