INR Chart Chat, page-540

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, INR had a small gain, moved from 9.5 to 9.7. But it also made a new 52 week low at 9.2, so overall not looking good. But Li macro had some positive signs this week, hopefully we may see a turnaround.
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Personally, I picked a few Li stocks this week after long time. Among others, I also picked up some INR at 9.7 where it closed. Not much, and will double next week if I see same signals. Bought INR after a long time. Like the stock, but not the sector for last few years. But things can change. Also will exit on anything concerning. We have had a very bad phase, we want to be sure its not over yet.
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Major price action indicators -

• ALB - MONSTER week with a gain of around 15%. and now back over 20% from its lows - reached 66.67, nearly a 3 month high
• Ganfeng - MONSTER week, gain of around 12.5% for week, Tianqi gain of over 10% - big week
• PLS/LTR - MONSTER week, PLS gain of 12%, LTR gain of 10% - matching double digit gains of key indicators
• Spot Price - Good, hopeful week - Back in green for the week, a gain of around 1.2%, so second week in last 3 weeks with a green, a rarity for so long

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So what do these numbers say?

• For the first time in long time are we seeing something very different on price action
• All previous plays, there was one very noticable feature - all jurisdictions never went in tandem. When Chinese increased, US still lagged. When US went ahead, ASX lagged.
• I have been reporting numbers for a very long time, but for first in long time, all 3 jurisdictions are going in tandem. All big stocks in the 3 regions had a massive gain of double digits
• All big stocks key indicators I track are above 20% from their lows - first box ticked
• Some new announcements like AGY also bringing hope
• We have a long way to go, but there was nothing not to like this week. But based on past experience, we need at least another couple of good weeks before an average punter may be convinced of a reversal. For Li diehards, this week's number may be enough.

Personally I have been consistently writing I am not playing LI stocks fora very long time. This week, after a very long time, I have dipped my toes in the sector. Not much at this stage, but first time in a long time. Have picked up around 6 Li stocks, but small numbers now. If things continue like this week, or should I say, levels are held and its now going back, I feel may double my small holding this week.
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So what may happen next week? On Friday night, US Li stocks were in green, moderate though. So we can start with a smile, and then Chinese stocks will provide direction.
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Here is the Figures for the Week:.
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