agree, it feels primed to run today. Surplus selling is being absorbed right now with around 30% of a normal trading day volume already absorbed . The buy-sell depth is holding steady, i think we should see a +5% rise by close of business.
I have open a day trade position in line with this view.
Also maintaining a long term position but will keep buying on the dips for that. Dips like yesterday and i imagine over the recovery there will be more dips..
This is the only supply outside of China. The US was just about to tariff rare earths and ONLY excluded them because they are critically important as part of thhe consultation period. What that means is US is heavily dependent on this, just imagine if China retaliates with a export tax themselves? interesting..The US has already said the exclusions are to allow the companies to make plans, where will they go if not to china? Yup Lynas!
As for Malaysia, imagine shutting down a company employing 600 people - Political suicide especially if there is even the slightest evidence to say Lynas is clean. Wonder what 6 years without issue says about Lynas operations??
Simply irrational fear by the market. Greedy when others are fearful...
Worth a read - https://www.reuters.com/article/us-...d-200-billion-china-tariff-list-idUSKCN1LY0QK
In particular - "The United States is aware of the strategic importance of rare earth metals as illustrated by a U.S. law passed last month that bans the purchase of rare earth magnets from China for the military in the 2019 fiscal year, said Dylan Kelly, a resources analyst at brokerage CLSA in Sydney."
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Last
$7.71 |
Change
-0.090(1.15%) |
Mkt cap ! $7.206B |
Open | High | Low | Value | Volume |
$7.78 | $7.80 | $7.59 | $17.72M | 2.310M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 16763 | $7.70 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.73 | 13637 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 16763 | 7.700 |
2 | 2845 | 7.660 |
1 | 13341 | 7.630 |
2 | 32483 | 7.620 |
2 | 24838 | 7.610 |
Price($) | Vol. | No. |
---|---|---|
7.730 | 13637 | 5 |
7.740 | 13341 | 1 |
7.750 | 13341 | 1 |
7.760 | 13341 | 1 |
7.770 | 13341 | 1 |
Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
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LYC (ASX) Chart |