Haha thanks mate, yeah I think I called that one pretty well, kind of scared me a bit how only a few days later the a*se fell out of the share price pretty much exactly as the chart patterns were suggesting.
And jeez didn't I cop an absolute flogging from everyone on here for daring to suggest PLS share price might soften for a while...
A lot of folks say charts are BS, and if you don't have the knack for them then really they are, but as you say back in November when I made that call there was absolutely no reason whatsoever to be anything but bullish on the fundamentals, but the technicals (to me at least) were screaming that it was primed for a fall.
And yes lithium prices have dropped a fair bit since November, but PLS (and other producers) are still printing money at a rapid rate, and will continue to do so into the future. I still maintain that drop across the sector in Dec to Jan was created purely out of technical signals combined with a well-timed push from the BEOT with a few "anal-ysts" releasing some scaremongering articles just as the shorters went to work on it.
Nevertheless I only took a very small slice of my position in the mid $5s, and bought back that and more when it got to the mid $3s, the vast majority being held strong as I am confident this sector has a long way to go yet over the course of the decade ahead.
Here's how I see the lay of the land for the next few months, things feel pretty bullish right now, and @asb83 hasn't been very active lately which is a good indication that at least one of the major short sellers he or she works for is not targeting this at the present time:
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Last
$2.97 |
Change
0.060(2.06%) |
Mkt cap ! $8.942B |
Open | High | Low | Value | Volume |
$2.96 | $3.02 | $2.93 | $100.8M | 33.97M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 716181 | $2.97 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.98 | 235000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 13455 | 2.960 |
1 | 338 | 2.950 |
5 | 74501 | 2.940 |
5 | 20445 | 2.930 |
9 | 100440 | 2.920 |
Price($) | Vol. | No. |
---|---|---|
2.990 | 39749 | 3 |
3.000 | 90073 | 11 |
3.010 | 93481 | 5 |
3.020 | 125136 | 14 |
3.030 | 53015 | 6 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
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