Doing chart tarot reading to help determine SP action for a miner currently in exploration and drilling is pretty useless, the biggest input by far is the announcement news, what type of news, timing of the news, and if the content of the news meets market expectations.
Currently lithium and other green transition minerals/metals are suppressed by the macro conditions and outlook around chinese industrial demand aswell as tightening credit market - so does the buy/sell volume moving daily average support line whatever nonsense matter? no.
that said my chart prediction is as follows, for those in the TA know this is known as a stegosaurus pattern moving daily average and he says the SP will be $1 by next week, this is 100% confirmed by many professional perfect charting technical analysis skills yes.
the dinosaur is happy that because of LRS humans wont be combusting his juicy flesh to drive to the pokies anymore.
LRS chart, page-6050
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Last
19.0¢ |
Change
0.005(2.70%) |
Mkt cap ! $531.8M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 19.5¢ | 18.0¢ | $20.64M | 109.5M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1620717 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.5¢ | 11183510 | 74 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| LRS (ASX) Chart |