2 weeks back I asked - Can we crack 4 this week? We did that...

2 weeks back I asked - Can we crack 4 this week? We did that following week
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Last week I asked - can we crack 5 soon?. Yes we can.
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From a weekly perspective, a very good gain, moved from 4.1 to 5.2. So back to back strong gains. There was lot of consolidation when we moved from 2s to 3s. There was consolidation, but much less in 4s when we moved from 3s to 4s. I expect similar consolidation now in 5s what we saw in 4s.

So what are the key numbers? Downside 4.7 to hold. I had written last week how it was important to get over 4.7 - expecting some resistance. It acted as support this week. Similar thing which I was writing about 4.1 when we moved to 4s. So till now its playing textbook, nothing much to dislike. Based on my observation of trading pattern, and I could be wrong, there are no more strong resistance or support points till 8. For me, 5.3 is a crucial number we have to stay above to be thinking about a crack at 8. We may play around this for a while to consolidate, which might be healthy, because just over a month back we were in 2s, if we don't have a good consolidation, the odds of dropping big due to any reason increases. So I would be comfortable to play around here for some more time.
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Many might be wondering what does RDN have besides nearology, they haven't proven anything. And that's right. Any such question is legitimate. But we have to understand, sometimes stock markets run on hope and potential, and on sentiment. All of these are very strong currently for RDN. So hopefully it overcomes those questions for now. One day it will have to face reality - do I have the goods or not? But that is still a bit far away. Lot can happen before that. General markets good. Li macro improving. If we continue this trend and hopefully shortly get confirmation around drilling, that may keep us going.
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Personally, like last week I did play a few, but this time not much. Major reason was 4.9 was holding strong, though we touched 4.7 on Friday. My average last week 2.8, this week 2.7, reduced slightly by some buy/sell. Not much difference, but I love to buy/sell, test my theory of up ad down ranges, so its more to that.
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For those interested how stock is tracking against other Lithium stocks or who hold multiple Lithium stocks, I do a Weekly Report across 96 ASX Li stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.


Here is the report for this week.
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https://hotcopper.com.au/threads/sya-weekly-report.6951924/page-3#post-73895580