INR Chart Chat, page-419

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08/12/24

21:04

Post #: 76963482
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Originally posted by dc1234: ↑

INR is having its biggest test now. On the back of a very weak ASX Li play. Its trying to hold here. Will it?
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INR is now playing weak for few weeks. It made its low in September, though it was not its 52 week low, which came earlier at 10.5. Then it rose to 32.5. It looked like old times are back. But now looking very weak and vulnerable. There is no support. Has already 17. Tough times coming. What can help, besides ASX Li macro play? Not sure.
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This is what I wrote in my Weekly Report for Li sector on SYA thread, anyone wanting to know more about how 90 Li stocks have tracked, general market behaviour, other sectors, please look at my other posts as I post the Weekly Report on one thread.
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Lithium Sector overview- ASX Lithium stocks are in a strife. Most Li stocks made lows in early September. Then there was a revival. Most Li stocks gained 40 to 60%. It looked like we may be back. In last few weeks, all have been given away. Nearly. Most stocks have now breached and gone below the lows of early September. So a very, very concerning stage now for ASX Li stocks

Chinese Li stocks still doing great. They also made lows in early September. They also started recovering. They also gained between 40 to 60%. But they did something differently to ASX Li stocks. They have kept the gains, most of it. Ganfeng on Friday was above 60% of its lows, Tianqi above 50% of its lows

US Li stock still doing all right. They also made lows in early September. They also started gaining, around 40 to 60%. ALB on Friday was around 45% above its low. Other US Li stock not doing that great, but ALB the flag bearer is. So US Li stocks have also played differently to ASX Li stocks. They have kept the gains. .
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Why is this discrepancy/divergence happening? Not sure. Will it go away? Does ASX Li stocks become more attractive now, because if they were to do catch-up, they could do higher gains? Or is ASX Li stocks indicating, the run by US and Chinese Li stocks will not be maintained and they will come down? Or this is the new play - ASX Punters now have to deal with this, a lot may be driven by shorters as well..

This divergence by itself, which is few weeks old in building, may not have been concerning. But this is what has happened to ASX Uranium stocks. It started in August. I initially thought that divergence is opportunity, ASX U are undervalued and gains could be more here. But it continued. And continued. Now its 4 months, and divergence is getting bigger rather than smaller. That sector under the shorters grip too. Is that the only reason? Or ASX punters have become too risk averse?

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INR Facts :

1: Mine permit is approved and is the first Lithium Mine approved in the US for 50 years

2. Court case RE approval is not against INR but the approval body, Bureau of Land Management (BLM)

3. Court Case is fictitous by a serial litigant/s who have a long history of ambit claims (DYOR)

4. Shorts are out, yes but generally common before a major announcement, my opinion , Daimond hands

5. Biden adminstration working overtime with its Loan / funding program , its his legacy.

6. INR should know in the coming week, RE loan approval, its a high probability based on point 1 (above)
INR Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
10 Upvote

2 Great analysis

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(20min delay)
Last 9.7¢		Change 0.000(0.00%)		Mkt cap ! $252.9M

Open	High	Low	Value	Volume
9.6¢	10.0¢	9.6¢	$630.1K	6.426M

Buyers (Bids)

No.	Vol.	Price($)
2	67058	9.7¢

Sellers (Offers)

Price($)	Vol.	No.
9.8¢	135599	1

View Market Depth

No.	Vol.	Price($)
2	67058	0.097
2	350000	0.096
9	445302	0.095
3	90639	0.094
5	266155	0.093

Price($)	Vol.	No.
0.098	135599	1
0.100	543824	14
0.105	1386241	14
0.110	2609671	11
0.115	308611	4

Last trade - 16.10pm 25/06/2025 (20 minute delay)

INR (ASX) Chart

INR Chart Chat, page-419

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INR Chart Chat, page-419

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