There is no doubt that the pressure LYC has gone through is accurately reflected in the share price. It has always been a case of LYC being short sold because of underlying weakness in the company, not Short selling being the cause of the weakness.
LYC won't rally hard because it has too much to overcome, it may make it in the very long term, I hope it does. However the best thing the LYC chart can do right now is a whole lot of nothing. Consolidate for a year or so, build a base that will filter out all the games and build the company (and share price) into something sustainable. What is in the company is exactly what you see in the share price. The good news is that between 60 cents and a dollar is a brilliant place to start working on a base.
why sell of, page-17
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Last
$6.10 |
Change
-0.160(2.56%) |
Mkt cap ! $5.701B | |||
| Open | High | Low | Value | Volume |
| $6.14 | $6.16 | $6.02 | $31.69M | 5.119M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 23252 | $6.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.10 | 23221 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |