Today's chart & trading, page-2264

I am on vacation in a different time zone, therefore not posting too much on HC. However, LYC has reached a critical point today and i would like to alert those HC members who would be interested.

From now to 15-Feb-2020, Lynas has to identify and get approval for a PDF site. 3 month is a long time and without further positive news, the SP is under pressure and a double bottom at 2.20 or even 2.18 is quite possible.

The short selling has been quite moderate, far from the likes of 40-50% of daily turnover 4 weeks ago.

	Date	Gross shorts 1	Issued capital	% Capital shorted 2	Shorts as % of volume 3
1	Tue 12th Nov, 2019	390,861	695,378,577	0.05%	12.33%
2	Mon 11th Nov, 2019	263,423	695,378,577	0.03%	11.51%
3	Fri 8th Nov, 2019	162,604	695,378,577	0.02%	7.36%
4	Thu 7th Nov, 2019	309,013	695,378,577	0.04%	9.40%
5	Wed 6th Nov, 2019	389,503	695,378,577	0.05%	17.09%
6	Tue 5th Nov, 2019	306,682	695,378,577	0.04%	11.84%
7	Mon 4th Nov, 2019	238,172	695,378,577	0.03%	10.26%

Wed 13-Nov-2019 LYC lost 7c or -2.95% to closed at 2.30.

(1) Closed 2c below 50% Fibonacci Level of 2.32.
(2) It is also 2c below the 200MA line, both (1) & (2) providing strong support.
(3) Failing that, a double bottom at 2.20 or even 2.18 is quite possible.

LT investors might think between now and 2.20 could be good time to accumulate as the upside is 72% to 3.16 and the downside risk is 5% to the double bottom of 2.20/2.18.

ST traders might choose to wait for a retracement and a confirmation before entering a long position.

If it ever breaks down below 2.20/2.18 support, 1.99 is the next minor support and 1.88 the 23.6% Fib level would be a strong support.

I am not a financial adviser, these are my personal opinions which might benefit you. DYOR!