SLR now in an interesting position. Should I stay or should I go?
My trading chart. If SLR is going to establish a rising trend then we are now at a decision point on my trading chart. A bounce will confirm a rising trend.
Problem is - resistance is still in place and has held since April last year. The next move higher is almost certainly a breakout and target setting.
You can see how the 1.05 to 1.15 region is a likely entry point for a rising trend.
.
.
Short term chart has a buy signal, is sitting on support and in a rising trend.
Difficult to suggest now is the time to buy as sentiment is still bearish. The cross failed. Support from here to $1.12 and beware the false breakdown.
There could be a shakeout prior to the next run higher.
As SLR is well below its' peers, I will hit buy tab based on this chart. I took a small position yesterday.
A reversal to $1.25 would be more prudent, less risky for an entry.
.
SLR Chart, page-1180
-
-
- There are more pages in this discussion • 354 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SLR (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online