Winner of the Day. 19/1/2011

Lynas was, once again, the Winner of the Day (Top 100 Stocks). Up 5.76% A good solid move finishing at the top of its daily bar - but on light volume. That's not a good sign.

The stock has formed a descending right-triangle. These usually break to the down -side - but there are no guarantees. A break upwards here would be very bullish.

A break below that solid horizontal support would be bearish and we might be looking at the 1.50 level.

The Daily Stochastic remains headed down and the MACD Histogram remains below the Zero Line. More upward action in the stock chart is needed to turn these positive and provide "buy" signals.

Despite the good percentage move - Lynas remains in Wait'n'See Mode.

Good luck

Red