Just like the free fall in January down to 86. Look at us now, $2 plus. Little sojourn under the round number today. BEOT accumulating all the retail holdings, who have made a killing from lower levels and are taking profit. BEOT getting themselves set at higher levels as they know the party is about to start so happy to incite some fear and let crowd psychology work its magic and hand over the loot.
OK team PLS, we are getting the much needed cold shower after another fabulous spurt. Who here really expected the price to be sitting at 202 in August 2021. Not me. My price target by May 31st 2022 in the tipping comp was 221. Just putting that out there so those who are disappointed, can study their tipping prices and clear their minds of negative thoughts. Thoughts that the blowin posters are hoping continue for their evil little purposes.
So entire Lithium sector hit today, what for, nobody knows, well I don't really but accept BEOT needs to get set in this sector after missing the first Quarter of play.
So the predictable trigger of the $2 level today, to see what panic can be incited. Not that much really. Bounce back towards close to keep us at party levels. The previous breakout at 160 to recent high of 246 took just 11 trading days. Let that sink in. 11 days for a 54% rise.
So the 61.8% fib retrace from 246 was almost reached today. 21 SMA is at $2.005. This may offer support but of course the BEOT don't give up that easy and the retail panic will have to dry up first before the price will start moving ahead again. KB holding some powder in there. Wait, wait, hold your fire men, and women.
RSI now back to reasonable levels and maybe a new trading range to be formed, like the Feb to July range. That is the sort of trend I'd rather see, as exciting as the last month has been. I'm out of dopamine. That sort of slow steady uptrend would set us up for a price around the 2270-280 level by years end.
Happy accumulating all and have a great weekend. Hate to keep rubbing it in folks but retirement is now 5 work days away. Travelling Wilburys cranked up. Inside out with Tom just taking the vocal lead. This is Livin.
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