Hi all, I am just an amateur chartist and not normally on this thread just wanted to point something out that may not have occurred to you all, for months now we have known that there is general hedge on small prospective lithium producers. A cursory look on the Shortman top 100 shows that CXO, LTR, LKE, VUL and SYA are all listed in the top 20. I have been trying my best to determine when these short positions may be closing, in jumping from the different threads CXO, LTR, LKE, VUL and SYA, something occurred to me.
After I did the following simple chart analysis, I noticed all of these shorted stocks have wedge patterns, now this may seem, bleedingly obvious for a shorted company, however the important thing is the timing. My apologies for the chart resolution (please do your own research), all of these charts are one-year charts, several of these charts are pointing to a breakout in less than a month. Now with a wedge pattern the breakout could either be upwards or downwards of course, however all of these companies are well undervalued.
All of these charts taken together point to a conclusion to the lithium hedge in maybe a month away, happy days maybe. Thoughts anyone?
LKE Price at posting:
54.5¢ Sentiment: None Disclosure: Not Held
