5 months on from my last post, LYC is again showing signs of life. Price made the target predicted back in February and then fell away, making a falling flag (the shaded price channel). Charting theory says that a price should break up out of such a channel and when it does there are a couple of techniques to determine a possible target. In this case $8.42 looks like a good candidate. Given it was my only stock to rise today it is certainly looking positive.

LYC 9Jul21

5 February 2021

LYC has dipped back to its underlying support uptrend line and bounced up off same this week. I'd suggest it is now primed to resume its climb. I'd see the next jump to take price to around $6.40 ($6.49 is the theoretical calculation but their is resistance at $6.38. Interestingly, theory also suggests the next major pullback for LYC (Wave 4 for the Elliott Wave nerds) could happen around $7.80. Looks good - but remember theory is just that, not a crystal ball.

LYC 5Feb2021

8 January 2021

LYC has broken above resistance to suggest a target of $5.00. Strongly rising making higher troughs and peaks it has a bullish chart.

LYC 5Jan21


Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

Sorry, this website uses features that your browser doesn’t support. Upgrade to a newer version of Firefox, Chrome, Safari, or Edge and you’ll be all set.