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Potential Buy Entry Alert to Watch LYC
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $1.63 Billion Market Cap, VWAP 2.32, ASX Ranking 196, 4 Week Av Turnover $7,906,564, Current Turnover Intraday $3,741.235 (3:36pm AEDT).
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 : BUY
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LYC – Lynas Corporation
LYC is in a prime position for buyers to start to engineer a move higher. The longer term weekly chart recently saws rejection of the lows around 2.00 and now looks to be ready to hold a higher level. We are now watching for the 2.30 zone to see some buying action and an increase in volume for evidence that buyers are soaking up any remaining selling pressure. The key now is for a push up through 2.45 and then another minor higher low to build the shoulder entry setup.
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Stock Code : LYC – Lynas Corporation
Company Website : www.lynascorp.com
Current Price : 1.865
Status : On watch for potential higher low and push up through 2.20
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TradingView Link : Click Here For TradingView Chart
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