LYC 0.30% $1.65 lynas corporation limited

The argument for TA is that the chart always tells the truth 99%...

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    The argument for TA is that the chart always tells the truth 99% of the time due to a variety of factors, not excluding the all powerful insider effect. If something big is going down then someone, somewhere can find out before everyone else and people who hold try sell everything or indeed buy everything if news is good, which can put pressure on a share price to the point where it has to move. Factor in macro effects and the chart begins to tell more of the story then most would care to admit.

    Never underestimate the market's ability to know about news before it happens. Not always, but certainly often

    Anyway, from a TA perspective it is a good bullish engulfing week, but on the daily it is bearish engulfing. A massive gap looms overhead waiting to be filled. Not many (if any?) gaps below.

    MACD turning up on the daily which is positive, however I am not particularly inspired by the way the 50 EMA acted as resistance.
 
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