LYC 2.15% $5.92 lynas rare earths limited

Possible Dead Cat Bounce?

  1. 457 Posts.
    There has already been a number dead cat bounces in the last 12 months and the price failing to lead higher today has me wondering if yesterdays movement is simply another in the longterm downtrend.

    For example going back to December last year where there was a sharp drop in the price, over 50% over a few days. It then rebounded sharply upwards however the movement didn't last.

    Chart: 11th of December price was at 12 cents, by the 18th it was at .064 and then bounced up to .088 on the 22nd. It has subsequently followed the long term downtrend since.

    So this current movement follows the month of June which saw Lynas continue the long term down trend and sell off from .07 down to .06 and then a sharp one day movement on the 29th which saw it down to .05. (A 20% movement on one day).

    So yesterdays 20% movement makes up for the 29th and sees Lynas price back to the start of June.

    Time will tell if it continues the long term down trend, the half yearly report due end of this month is going to be very interesting.  

    Any chartists thoughts on this being another deadcat bounce?
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