Very concerning play in sector now happening..Yes WC8 though,...

Very concerning play in sector now happening.
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Yes WC8 though, surprisingly gained this week, moved from 24 to 24.5 from a weekly perspective. It also reached 23. Can it hold 20?
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So what is happening? At this playing the sector, mostly. LI sector is in its worst phase currently. If one were to look at sentiment, I report Sentiment Indicator, we would need a new indicator - Extreme, Extreme Fear. Its really bad. Full stop.
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So what could happen from here? Very uncertain and concerning times. Li sector is in nearly a free fall. Most stocks will not be able to sustain the extremely pessimistic view. General markets also looking like going into correction/consolidation phase. So very likely, we may have to see some more pain before some good gain. But anything can happen, it can turn anytime, so best to play price action.
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From a numbers perspective, first test to hold 22.5 low, which it has come close to testing many times in last couple of weeks. If it holds that, very good. But if it doesn't, suddenly 20 will come into play. In big way.. But this weeks play should give lot of comfort to many - we were in a phase that lot of Li stocks were slowly succumbing to pressure. WC8 did look like that, but rose back. It even reached 27 from 23 play - so some positive there. Why? If reversal happens, it could be very strong. Question is - when that will reversal happen? Not soon it seems. Not sure what was the reason that on Weekly WC8 did better than most Li stocks. Bounce play or positive play? Based on what is happening in the sector, I hope its a positive play, but I am not convinced yet. I still feel there is a test of 20 coming soon, hope I am wrong for holders.

For those interested how stock is tracking against other Lithium stocks or who hold multiple Lithium stocks, I do a Weekly Report across 90 ASX Li stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.


Here is the report for this week.
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https://hotcopper.com.au/threads/sya-weekly-report.6951924/page-3#post-75059145