Lynas Rare Earths (LYC) is an Australian rare-earths mining company that has two major operations: a mining and concentration plant at Mount Weld, Western Australia, and a refining facility at Kuantan, Malaysia. Michael Gable has a positive take on this company.

“We looked at LYC in mid-July,” Michael said, “and noted that the chart was looking positive again after breaking out of a tight trading range.

“Lynas is the largest producer of rare earths in the world outside of China. It was clear that after rallying strongly in June – July, it needed to consolidate.

“It has now done so by trading sideways in a large rectangle.

“The last couple of days has seen it break free of this range.

“We now have a new buying opportunity with LYC as it should continue to trend higher from here.

“If it momentarily falls under the breakout line, then it should ideally find support near $7.50,” Michael said.

Lynas Corporation Limited (LYC)

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