GXY 0.00% $5.28 galaxy resources limited

Chart, page-9859

  1. 4,590 Posts.
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    No problems mate.

    Happy to answer questions & take constructive criticism.

    I haven't followed PLS or KDR closely enough to comment too much on their charts.

    GXY generally moves in the direction of the lithium price & the LIT ETF in the US. So I would imagine most of the big LI stocks would shadow those movements as well. Many investors who own GXY would own other LI stocks as well (I do) so it's the herd mentality at play here. If people buy into PLS they may buy GXY at the same time & vice versa.

    The purple line is the ETF

    LIT ETF GXY.PNG

    From what I can see on the PLS chart below, in TA terms, this was a genuine move down as the RSI & SP are both trending down. IMO PLS is reacting to genuine market sentiment at the moment. Plus the shorts aren't as active in PLS when compared to GXY percentage wise.

    PLS 07 09 18.PNG

    IMO our SP on the other hand was manipulated & pushed down to create the illusion GXY is just as weak as other LI stocks on the ASX.

    We are more advanced in the development of our mines, profitable, shipping the white gold & have no debt, therefore we have more potential than other LI stocks.

    The bullish divergence exposes the manipulation in the charts looking at the RSI & MACD. The SP is trending down & the other indicators are trending up. It's a signal the move is false & not a true indication of what's happening in the market.

    GXY Bullish Divergence.PNG
 
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