Buyers happy to defend higher levels as price targets new highs

Potential Buy Entry Alert to Watch LYC

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $1.94 Billion Market Cap, VWAP 2.909, ASX Ranking 166, 4 Week Av Turnover $16,611,465, Current Turnover (Intraday as at time of alert) $17,324,095.

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 held up well under recent pressure as the market went into meltdown off the all time highs. Buyers are showing their hand and look happy to support price at higher levels. We are now watching for a higher low to build the evidence that price is heading higher. If the trade war kicks off and China tariffs rare earths to the US, then we expect LYC to be a beneficiary as happened with the rally in May.

Stock Code : LYC – Lynas Corporation Limited

Company Website : www.lynascorp.com

Current Price : 2.93

Status : On watch for potential higher low and push up through 3.25