As I've said before, it's not about charts or even fundamentals. It's about sentiment, which in Australia has been against lithium for the last six months. There was no rational reason for it, as the EV and grid storage transformation kept gathering pace and lithium miners proved unable to keep pace with demand, as evidenced by the rising price of lithium. But some analysts spread stories about lithium bubbles, which made investors nervous and opened the door for shorters. Those who were confident about the big picture gathered up shares from nervous sellers, while others made money trading the volatility. Although the volatility may continue for a bit longer, the next quarterly results, the 2018 pricing and the announcements about JB and SDV devt will transform the market's sentiment about GXY, while the increasing momentum of EVs and grid storage will change the sentiment in Australia around lithium. Get aboard the GXY train while prices are still in the bargain basement, is my view, but DYOR.
GXY Price at posting:
$2.03 Sentiment: Buy Disclosure: Held
