Buyers are ready and waiting for a new leg higher so time to get on board

New Buy Entry Alert LYC

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $1.85 Billion Market Cap, VWAP 2.781, ASX Ranking 171, 4 Week Av Turnover $15,278,728, Current Turnover (Intraday as at time of alert) $4,753,653.

Company Overview : Lynas Corporation Limited (LYC) is an integrated source of rare earths from mine to customer. Lynas has a portfolio of aligned assets to explore, develop, mine and process rare earth minerals. These assets are Mt Weld and Lynas Advanced Materials Plant (LAMP). LYC’s main asset is Mt Weld rare earths deposit in Western Australia.

Broker Consensus : Not covered by a major broker

LYC – Lynas Corporation Limited

LYC has spent some time consolidating the highs and is ready now for a new leg higher. We are happy to buy on a push up through 2.87 and will hold the risk level and stop loss at 2.60. If price falls below 2.60 prior to entry, then we are happy to cancel the alert and re-assess the action.

Stock Code : LYC – Lynas Corporation Limited

Company Website : www.lynascorp.com

Current Price : 2.79

New Potential Buy Entry (Trigger Level) : 2.87

Potential Sell Exit Zone (Stop Loss) : 2.60

Status : On watch for buy entry trigger