The aim of TA is not only try to statistically predict where the SP is heading, it also presents a simple picture of how it is trending. With the help of trend lines, Fibonacci levels and statistical indicators, these give me more confidence than relying on financial figures which could be 90 days old.
As discussed earlier starting from Post #: 40479125 robots are doing a lot of the trading, they rely heavily on statistics and charting. One way to combat them is to do charting ourselves. These are my humble opinions and would like to share with HC members hoping my postings would benefit them as well.
LYC regained some composure today gaining 5c or +1.98% closing 2.58.
- Closing only 1 cent off today's high of 2.59
- Rise is nearly 5X ASX200 index's +0.4%. Showing there are buyers who reckoned the last 2 big drops were overdone.
- Volume is light though and only 53% of daily average over 20 days.
As stated earlier, the SP would consolidate around the 61.8% Fibonacci level before it could gather enough strength to break to the upside.
The aim of TA is not only try to statistically predict where the...
-
- There are more pages in this discussion • 59 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add LYC (ASX) to my watchlist
 (20min delay)
|
|||||
|
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 |