LYC.AX dominated by bulls lifting the market higher throughout the day


Lynas Corporation (LYC.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

LYC.AX dominated by bulls lifting the market higher throughout the day
LYC.AX ends the day on a bullish note closing near the high of the day
LYC.AX pushes through previous session high

Overview

LYC.AX ended the week -1.41% lower at 2.10 after gaining A$0.05 (2.44%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 2.08, Lynas Corporation confirms its breakout through the prior session's high having traded A$0.03 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (LYC.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Lynas Corporation (LYC.AX) as at Jul 13, 2018

Friday's trading range was A$0.06 (2.93%), that's below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.

Even with a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Prices are trading close to the key resistance level at 2.12.

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Selling could accelerate should prices move below the nearby swing low at 2.02 where further sell stops might get activated.


Market Conditions for LYC.AX as at Jul 13, 2018

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