Daily Discussion, page-3738

Just another weekly update from me, I know it will give opportunity for some to vent out again, but that's part and parcel of posting on HC and doesn't affect me.

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On a weekly perspective, we lost a little from 4.3 to 4 - so not much. Now there has been 3 weeks of decline - From 6.8 to 5.5 to 4.3 to 4. We are also sitting exactly at half of the recent high of 8. Volume wise, much better volume than last week, but slightly higher volumes were on down days than up days, but not much difference to read.
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So what is happening now? I feel its in holding pattern for now. A big rise had happened. And a big drop has also happened. Just over a month back it was hovering around 3.1/3.3 mark (last big rise to 8, it had few rises before as well). A week later it had the break out. It went to 8 and came back to 3.3. So practically has done a full circle. Also last few days its becoming more volatile, a gain or loss in close to double digits is happening. So I feel its trying to find its footing. Or as some may think a platform to form from where the next big move could happen. Friday was a good day with a good finish, only thing better could have been volume, still it bodes well for next week.
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Personally - Last week I had written possibility of reaching 3.6. It did reach there, in fact lower towards 3.3. I was hoping it goes to 3.1 if it had already gone there, but it wasn't a key thing. I have mentioned few times I exited at 7, looking for entry. I have not yet bought. I want to see how this zone/phase plays out. There are some signs that Li sector may have bottomed, though jury is still out (a section in my Weekly Report link). But if it has, it will have positive impact on Li stocks and RDN may also gain from that sentiment.
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So what may happen this week? Key is to see if Friday's momentum can be maintained. Also what does volatility mean = +/- 10% days? I feel it means its not settled, so hoping to see it settle down, make a platform and then make a move. Otherwise chances are a rise could also be sold into. Upside key would be to get over 4.1 and more importantly 4.5/4.6 zone. Downside, 3.6, but new support of 3.3, outside chance of 3.1. I wish all holders well and hopefully something good happens.
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For those interested how stock is tracking against other Lithium stocks or who hold multiple Lithium stocks, I do a Weekly Report across 96 ASX Li stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.

This week I have another paragraph in the report around discussion of whether Li stocks may have bottomed, based on 2 day rally we have seen from Thursday/Friday.

Here is the report for this week.
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https://hotcopper.com.au/threads/sya-weekly-report.6951924/page-2#post-71363050
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