LYNAS TARGET HIT - UPDATE - FURTHER DOWNSIDE EXPECTED
Update to the idea posted on 27 September.
As expected and noted the $1.80 region got tested. Fundamentally nothing has changed, we are in a down trend and I still expect the price to go down to $1.425, at which point I will be scaling my long term buys in.
This is not withstanding the fact that LYC is still a good swing trade option, as per my call last week we seen a 10% increase.
I'd be selling this now and waiting for further downside
Next week I expect the price to retest $1.60,
IF this region holds, it will retest the $1.80 region.
IF it does not hold, I expect to see the $1.40 region this month.
Will reassess towards the end of next week.
May the gains be with you.
As expected and noted the $1.80 region got tested. Fundamentally nothing has changed, we are in a down trend and I still expect the price to go down to $1.425, at which point I will be scaling my long term buys in.
This is not withstanding the fact that LYC is still a good swing trade option, as per my call last week we seen a 10% increase.
I'd be selling this now and waiting for further downside
Next week I expect the price to retest $1.60,
IF this region holds, it will retest the $1.80 region.
IF it does not hold, I expect to see the $1.40 region this month.
Will reassess towards the end of next week.
May the gains be with you.
Note
REFER TO THE CHART BELOW EXPECTING THE BOUNCE
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.