LTR's technicals are failing across all indicators, and only awaiting a break below 87.5c before a rush to offload in a bid to avoid the abyss.
LTR
STRONG SELL
The Barchart Technical Opinion rating is a 100% Sell with a Strengthening short term outlook on maintaining the current direction.
Long term indicators fully support a continuation of the trend. LTR.AX - Liontown Resources Ltd Stock Price - Barchart.com
..when the technicals are weak like this, there is no hurry for a premature buy decision; the macro outlook for lithium is not improving suddenly anytime soon and shorters are unrelenting, so IMO may be best to stay and watch what the stocks do ahead.
..market participants having FOMO in the lithium space are conditioned by past success- what only matters is what is ahead, not the past.
..lithium hodlers unfortunately are stale bulls, that are still in denial about short and medium term trajectory for lithium industry because they remained fixated about the promising future of EVs. No argument that the future of EVs and EV growth will be bright ahead but yet understanding of short to medium term market valuations of lithium stocks as well as market dynamics that influence the comatose spot pricing are critical that would likely define where the bottom ends for lithium stocks in the coming months and quarters.
...IMO staying in cash to position for lower price opportunities ahead is much better than buying a falling knife sector with weak short to medium term outlook with strong risk exposure to the auto sector that is highly susceptible and sensitive to a fast slowing global economy that could be on the brink of tipping into a recession.
