AZL General Discussion, page-20877

Li sector at critical level?

Yes AZL remained flat at 2.3 on a low volume of just over 6m shares traded. A mixed day, some buys, some sells - but no clear direction.

The whole Li sector is at a critical level. Most punters thinking - is this the bottom or more to come? As I have mentioned before I use ALB as one measure. Last week it had tested the bottom at 112. For last 2 days somehow its holding the level. There was a chance it could move quickly towards 100, or do double bottom and move up. It has moved up but has not crossed the first critical level around 127. Yesterday it did reach 127 but gave up good gains for the day, though still finishing green, is now around 122 mark. It needs to get over 127 and finish over it. Next level is around mid 140s - then it would have done a full circle after making low of 112 earlier, reaching around high 140s and then going back to 112 to reverse. Lets see what's in store.

AZL also in that phase and not getting a catalyst for move up. Has lost 2.5 but is still within distance, so one day trading can make a difference. But if no announcement of its own, may need sector sentiment help.

Personally picked up a few oppies at 0.5c today, not much. Want to see some change/reversal before committing more.
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So what may happen tomorrow? Its a short week and last trading day of the week. Much depends on US Li overnight. Today many Li stocks were wanting to get out, many finished in green but there were equal number of reds - so although a small move up has started, its feeble for now. I have a feeling if we get another good US Li tonight, this time many stocks may do a runner, including us. Will that happen? Lets hope so. All the best.