Thur 16-Oct-2019 +2c +0.75% closing at 2.69.
(1) SP closed lower than open, therefore a red candle today. But still closed higher than yesterday by 2c.
(2) Long wick at bottom of candle indicates it has survived selling pressure.
(3) Both EMA13 (blue line) and EMA26 (red line) are pointing up and diverging, showing the UT is gaining momentum.
(4) SP is pulling away on top of the Ichimoku cloud, so it is on the right side of the ledger with a bit of margin.
Overall the SP is gaining traction but the UT is not as strong as one would have wished. It is still vulnerable until it has crossed the midtrend line(blue dotted line). If it surpasses the last peak of 2.75, making a higher high, then it would be confirmed. The next few bars would be critical as it is coming to a juncture where the SP would be breaking above midtrend, making a higher high, and more importantly breaking the multi-month downtrend line (orange line).
Remember we are only 1 day away from the Quarterly Report on Monday 21-Oct-2019. The SP could pop on good news. Even from the chart, you could see an air of anticipation. Bring it on!
DYOR, Happy trading!
Thur 16-Oct-2019 +2c +0.75% closing at 2.69.(1) SP closed lower...
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Last
$8.09 |
Change
0.070(0.87%) |
Mkt cap ! $7.561B | |||
| Open | High | Low | Value | Volume |
| $8.15 | $8.27 | $8.08 | $35.31M | 4.353M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7192 | $8.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.10 | 4833 | 2 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |