Buy the breakoutPossible big move coming buy the breakout(after a daily close above flag) if it occurs target is around $4 gl!
LYC trade ideas
LYC:ASX - Lynas to potentially double from US-China Trade warThere are winners and losers in every fight. There are the direct winners of the fight, the ones who lay knock out punches. Then there are losers, those that land bruising blows on their competitors. But there is another class of winners often forgotten; the winners who while the fight is happening pick up the gold teeth and wallets lost by the pugilists. Lynas Corp are proving to be one of the latter.
I haven’t looked at Lynas in at least 6 months but it appears they have announced some restructuring and capital spending at a very opportune moment. www.lynascorp.com
Lynas are a well performing business from what I can gather (I’m a charts guy, not a fundamentals guy) and this dick measuring competition between China and the US is only going to play into the hands of other rare earth metals companies. Lynas have popped out of a down trend that they have been in over the last year and are now testing a short term resistance level. THis is all off the back of Chinas announcement of their rare earth metals market tariff threat. I would expect this to be cracked either this week or next week, but I would like to see the price action come back to rest on 2.30 again before it does. However if it does the same with 2.43 I’d be expecting the same outcome.
Based on previous price levels, if China ends up being serious about its threat 5.00 isn’t an unreasonable target for LYC.
LYNAS TARGET HIT - UPDATE - FURTHER DOWNSIDE EXPECTEDUpdate 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.
LYNAS - LYC - BUYING OPPORTUNITY TO COMEMONTHLY IS OBVIOUSLY BEARISH DUE TO FUNDAMENTAL NEWS, FINDING SUPPORT ON THE 0.618 FIB LEVEL CURRENTLY.
FUNDAMENTALLY A SAFETY REPORT OF LYNAS OPERATIONS IN MALAYSIA WILL BE RELEASED IN 3 MONTHS.
WE SHOULD SEE SOME BUY PRESSURE AT THESE LEVELS NEXT WEEK BUT I EXPECT FURTHER DOWNSIDE TO THE 0.786 FIB REGION WHERE MAJOR SUPPORT IS.
I BELIEVE THE REGION AROUND THE .786 IS A GOOD LONG TERM BUY REGION AS THERE IS ALOT OF CONFLUENCE.
UPTREND LINE, 0.786 FIB REGION AND LONG TERM SUPPORT LEVELS.
Trend reversal for LYCLooks like a trend reversal here for LYC. The price pushed past the EMA 15 today and is holding above EMA 200. Should expect a push back to recent highs. Might take around a month for the play to fully run through.
ASX traders keep an eye on this one.Classic small cap stock break out pattern..... 3 year base break on volume then pull back and break again.
$LYC Double Top BO out of Rising wedgeCould have a small bounce here to resistance..
But overall bearish.
See annotations
LYN.ASX Share prices could be heading down to around 9 centsLYN.ASX Share prices could be heading down to around 9 cents if fails to hold at 13.5 cents support price point.
As demand increases for rare earth metals... As demand increases for rare earth metals, deep sea mining gets second look
www.japantimes.co.jp
