LRS chart, page-2830

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beisha

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12/03/22

22:35

Post #: 60159155
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Originally posted by dawgfather: ↑

Daily chart looks promising.

The dotted vertical lines show our SP broken up into what I think are three time periods that best summarize our SP for the last 12-14 months. I also think we are starting a new fourth phase which looks like it will begin on Monday IMO (assuming that 4.2 becomes a new support line).

In summary, the three phases we've just completed (IMO) are:

First period (Feb 2021 - August 2021) = Assays started coming back for Cloud 9, a JORC was released but then investor sentiment soured as news flow decreased and no news eventuated on the Lithium front.
Second period (August 2021 - end of November 2021) = We traded in a channel almost exclusively between 4.2 and 4.6. This lasted until 29th November when we started another downward trend to 3 cents.
Third period (December 2021 - Yesterday) = Share price languished as low as 2.7 as we waited to find out what was happening with Lithium projects in Brazil and Argentina. Obviously the Brazil news dropped and we moved away from 3 cents and as of yesterday reached back to 4.2 again.

I think we are now starting a new clear trend:

- The SP closed just above the SMA200 yesterday. This is our first time closing above the SMA 200 since roughly June 2021 (very significant).
- MACD has crossed and is at it's highest point since June 2021
- Blue circle on the chart shows yesterday's close brought the SP back into the 4.2 and 4.6 channel which was a very strong trading channel during a lot of 2021.
- Orange circle shows that our SMA50 line has bottomed and has turned upwards for the first time since April / May 2021 (Until recently, the SMA50 had been in a downwards trend).

Any close on the weekly chart above 4.7 is going to be very bullish for me (as well as a crossing of the SMA50 above the 200 - if we can achieve it).

Expand

WEEKLY CHART LRS

5 ema cross 20sma ( blue arrow ) happened this week , next week we could see the 5ema cross the 30/50ema too which would be very bullish.

RSI 14 indicator is getting above 50 which is positive and we have some higher lows occurring.

Has the DOW found a bottom at 32286 ?

If so, then that would be handy when salinas lithium results get released.

Global X still hasnt found a bottom yet, ....i suspect if the current level 38 fib doesnt hold then the 50 fib support 57, should be the last drop......RSI 14 is getting into over sold territory well and truly,

Overall, amongst a very volatile MACRO back drop, LRS has held up well and is now looking to thrive with upcoming FA results not far away.........you would have to be bonkers to have thoughts of selling when LRS is primed for a leg up with all those amazing visual cores we have observed lately.....

Exciting times.

imo

Last edited by beisha: 12/03/22

LRS Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
19 Upvote

5 Great analysis

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LRS chart, page-2830

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