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.
Comment:
REFER TO THE CHART BELOW EXPECTING THE BOUNCE
