Lynas Corporation Limited (LYC:AX) China is threatening to restrict the supply of rare earth minerals to the United States
Lynas Corp LYC.AX on Friday said it was stockpiling production of its major rare earth element, Neodymium Praseodymium, despite a sharp increase in prices lately as rare earths find themselves in the middle of the U.S.-China trade war.
Lynas, the only major proven producer outside China of rare earths, said its decision will allow it to consolidate its position as a preferred supplier.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 2.96.
The projected lower bound is: 2.35.
The projected closing price is: 2.65.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 23 white candles and 21 black candles for a net of 2 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.2500. This is not an overbought or oversold reading. The last signal was a sell 18 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.02. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 11 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -97. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.
Rex Takasugi – TD Profile
LYNAS CORP FPO closed down -0.020 at 2.640. Volume was 35% below average (neutral) and Bollinger Bands were 19% wider than normal.
Open High Low Close Volume___
2.600 2.680 2.600 2.640 4,678,031
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 2.74 2.28 1.92
Volatility: 35 78 89
Volume: 7,016,836 8,002,047 6,966,129
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
LYNAS CORP FPO is currently 37.7% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of LYC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on LYC.AX and have had this outlook for the last 19 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.