After they went ex-div and stayed above $12/share recently, I suggested that $12 might be the new downside resistance level that Lycopodium (LYL) may bounce off for a while now, similar to the $10 level they were bouncing off and staying above for quite a few of the past 12 months - see below:

It hasn't been the same, as LYL rarely dropped below $10 on that 12 month chart, and lately they have been dipping below $12 fairly regularly and then bouncing back up above $12 again, as they did today, closing at $12.20. So $12 doesn't seem to be as strong a resistance level as $10 was, with buyers not stepping in immediately EVERY time they drop below $12, as they were at $10 in the first half of the past year. There are still buyers there willing to buy LYL back up to that $12 to $12.50 level, but they are not as active this time, so I'm now seeing more of a pennant forming on the chart with a breakout likely soonish - they're at the top of the pennant formation now, however a break back up to $12.50 might just turn that into their new trading range, say $11.50 to $12.50, rather than a strong bullish signal. A move up to $13 would be bullish though, in my view.

I'm confident they'll be trading over $14/share soon enough, like anywhere between Monday and this time next year, but within 12 months, IMO. But I am talking up my own book here, as LYL is my largest position both here, and in real life, with the real life position dwarfing the position here because I don't have any weighting restrictions in that real money portfolio like I do here and also in my SMSF - I also can't hold LYL in my SMSF because they're not in the ASX300 index, so they remain in my other main real money portfolio - which I usually refer to as my income portfolio, which has zero restrictions.

LYL remains a relatively low liquidity company that can have some exaggerated moves because of that lack of liquidity, so it's the overall share price trend that interests me more than the daily movements.

They are usually fairly quiet between their reporting periods, occasionally announcing new contracts where the dollar value is large or the contract represents a move into a new commodity, new sector or something of note like that, but otherwise you have to assume they are adding to their order book as BAU (business as usual) without any fanfare or ASX announcements. The proof of that is in their presentations that accompany their reports every 6 months where we can see that they have maintained a healthy order book despite completing a number of projects, so they continue to win more work, they just don't tell us about most of it between those six monthly reports.

They don't talk themselves up too much but it's clear that the elevated gold price is providing them with a nice tailwind at the moment, same as GNG (G.R. Engineering Service) which I also hold and have been adding to since they dropped back below $4/share.

Their reports in February should confirm my suspicions that there's plenty going on at both companies, even though they don't announce too much.

Discl: LYL Held (largest position), GNG also Held, medium size, but I'm adding to it IRL as I am here.