A slightly unusual play with WR1 this week, marked by a trading halt and a significant announcement. I recently bought back in just before the trading halt. This decision was driven by a strategic perspective, hoping to capitalize on potential positive developments.So what do I mean by this strategic perspective? After WR1 rose from the level of the 80s, it reached close to 150 around six weeks back. At that time, I had written that I got out at 145. Many wanted to see my trade, but let's assume it's what I feel and write for those who look for cues from me.
My selling was an indication that we might have reached a short-term top. I did get a lot of flak for selling, but my sell has stood the short-term position. I know most are long-term, so any price does not matter to them. But some, like me, play short-term. My selling was the cue. It has stood the timeline. I am sure most on this thread may disagree. It's fine. We all write and do what we think; we get some right and some wrong. So how is it looking for WR1, especially with what happened this week? The trading halt adds a layer of uncertainty and potential opportunity.
Overall, one may think it's still playing in the zone between 120 and 150. And that is true. This range is the biggest strength for the stock for anyone holding. A big rise has happened, and it has held to the gains. So very positive from that perspective. However, the trading halt indicates that significant news is imminent, and it could swing the stock either way. Personally, I re-entered this week.
Next week will be critical for WR1 and many other Li stocks. The anticipated new mineral resource estimate could be a game-changer. While general markets might see a small correction, WR1's upcoming announcement holds promise. If the estimate is positive, it could push the stock above 150, despite potential macroeconomic weaknesses. I've been writing about WR1 for over three years, and it's been one of my more profitable stocks. I'm optimistic this new development will continue that trend. Let's stay open to alternative views and see how it plays out. Enjoy your week and all the best.
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