“Rare Earths pricing has been subdued for the past couple of years,” Michael said. “However, with Lynas being the largest producer outside of China, there is no doubt that it is in the box seat to capture the market for rare earths in the Western world as countries such as the US try to wean themselves off their dependency on China.

“The LYC chart has been fairly messy since the 2022 peak, with the stock trending lower in that time.

“However, it is now looking like it is breaking the downtrend (circled in the chart).

“Price action has been particularly bullish in the past few weeks with good volumes coming back into the stock.

“If this downtrend is now over and buyers are finally stepping back in, then we have likely seen the lows and current levels are a buying opportunity.

“There is a high chance that LYC shares now start to trend higher from here,” Michael concluded.

 Lynas Rare Earths (LYC)

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