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Potential Buy Entry Alert to Watch LYC
Time Frame : Daily
Sector : Materials/Basic Materials
Key Stats : $1.74 Billion Market Cap, VWAP 2.596, ASX Ranking 177, 4 Week Av Turnover $33,386,331, Current Turnover (Intraday as at time of alert) $1,932,554, PE 213.1.
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
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LYC – Lynas Corporation Limited
LYC is in a prime position for a run up through previous highs at 3.16 as buyers support higher levels at 2.50. An escalation of trade tensions may be just the trigger as buyers seem happy to wait for news out of the meeting between the US and China over coming days. Its expected that a trade truce will be the nest short term outcome, but if Trump decides to push and raise tariffs, then expect China to fire back and use rare earths as ammunition. We are watching now for buyers to hold a minor higher low for the entry setup.
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Stock Code : LYC – Lynas Corporation Limited
Company Website : www.lynascorp.com
Current Price : 2.62
Status : On watch for potential higher low and push up through 3.20
