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acwbagnall

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01/03/23

23:24

Post #: 66549773
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Originally posted by acwbagnall: ↑

EW Chart Update:

IMO tomorrow could be an important turning point for graphite stocks, and particularly anode makers such as TLG and NVX.
8am sydney time is the start of the Tesla Investor Day or Tesla Strategy Day / Master Plan part 3.
I'm not expecting that TLG will get a mention, but I do expect Elon and co will make mention of their insatiable need for graphite anode materials for their plans for this decade and beyond - in particular from manufacturers which comply with USA and EU domestic production standards and ESG requirements i.e. NOT sourced or processed in China.

Chart wise we are forming what looks like a textbook 5 wave impulse with a wave 4 retrace now in place at $1.50 which also happens to be precisely on the 50% fibonacci retrace of the wave 3 move from $1.10 (the previous cap raise) to $1.88 - the most recent high.

So - if Elon and co wax lyrical about their needs for high quality synthetic and natural anode materials tomorrow - is that going to excite the market? Are we going up or down tomorrow following the event.
If we go down below $1.50 then I would say the wave count is probably wrong as it will have breached the wave 1 high, and it may be back to the drawing board, however the FA tells me we are still likely in the midst of a sustained uptrend so I won't be panicking if we do see some games being played the next few weeks.
If there is some positive chat about graphite tomorrow I think we could see some explosive action upwards towards $2 which might be a likely wave 5 target (equal to wave 1), and the VW event on March 14 followed by the permit decision would be further likely catalysts along the way.
So far, so good.
Not advice DYOR.
cc @Darkstone

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TLG Price at posting: $1.55 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 37.5¢		Change -0.005(1.32%)		Mkt cap ! $158.6M

Open	High	Low	Value	Volume
38.0¢	38.0¢	36.8¢	$128.5K	345.1K

Buyers (Bids)

No.	Vol.	Price($)
6	13425	37.0¢

Sellers (Offers)

Price($)	Vol.	No.
37.5¢	49983	1

View Market Depth

No.	Vol.	Price($)
4	13463	0.370
11	98971	0.365
30	368956	0.360
7	91053	0.355
14	153282	0.350

Price($)	Vol.	No.
0.375	50062	3
0.380	25350	4
0.385	53117	4
0.390	18700	2
0.395	70975	2

Last trade - 15.54pm 14/10/2024 (20 minute delay)

TLG (ASX) Chart

TLG Chart, page-2668

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