WR1 General Discussion, page-34588

Weekly data and thoughts.
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Please not that all my views are for short-term only, and I could be wrong, so please dyor.
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Lithium Sector Overview -
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From a weekly perspective, WR1 had a small drop, from 31.5 to 29.5. In the process touched its 52 week low, did not make a new one though, when many Li stocks were making one. At this stage, WR1, or for that matter, most Li stocks, just following Li macro. Which is very weak, to say the least. Gives very little confidence. I did pick up some WR1 at 30.5 last week, but chickened out and sold at break even at 30.5 this week. Could have sold a bit higher on Thursday, but I was done. So difficult to play now. I remember buying at around 30, 2021 or 22. Same day it got to 36. It was so easy to play. Few weeks later 50s. Oh well, those were the days. Well, if Li macro doesn't get better, not sure if 29.5 will hold. If not, around 25 could be the next big play. Lets hope it reverses from here.
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Major price action indicators are mixed -

• ALB - Loss of 2% for the week, moved from 77.03 to 75.51. Also made a new 52 week low at 67.23 this week. Recovered a bit though.
• Ganfeng - Gain of around 0.7% for the week - Tianqi gained 1.5
• PLS/LTR - PLS lost 5% but LTR lost 1% - new 52 week low for PLS at 179.5 on Friday
• Spot Price - Down slightly for the week, I think around 0.2%

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So what do these numbers say? Chinese Li stocks have held the price, and hopes. Ganfeng is roughly 50% up from its lows. Not many US and ASX Li stocks can claim that. So there is hope that US/ASX Li stocks catch up. But it was not to be this week, even though Ganfeng is doing green weeks in succession. But barring ALB, many other US Li stocks finished in green for the week. So there are signs of coming back. But if Chinese stocks falter, there could be more pain.
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So what may happen next week? US and ASX Li stocks are still in the grip of going down, something I wrote last week as well. All hopes on Ganfeng and other Chinese Li crews. On Friday, US Li stocks had a moderate drop. General markets moderate gain. So a tentative start on Monday, and then wait for Chinese stocks to provide direction.
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Here is the Figures for the Week:.
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