Lynas is the largest producer of rare earths in the world outside of China. Rare earths are a collection of metals used in electronics, wind turbines, and electric cars. Increasing demand for these metals, and an increasing need for the US and other western countries to reduce their reliance on China has benefited Lynas.

“The charting profile is very bullish and it looks like LYC is just beginning its next rally higher,” Michael said.

“We can see that into the March peak, LYC had been trending very well.

“Its share price then started to fall but I’ve noticed that the ranges were tightening up to resemble that of a triangle.

“When volatility dies down like this, if often precedes a strong move.

“We can see that just in the last few days. LYC shares have broken out of this triangle and this should therefore be the start of another strong rally higher,” he added.

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