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“And if it does, it may go slightly lower than $13.00. Then it...

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clivemax

3,409 Posts.

416

11/09/23

10:48

Post #: 69807845
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Originally posted by akgo01 ↑

LTHM sp has been trading in that Demand Zone or the previous accumulation phase. So it is very reasonable to think that LTHM is in Accumulation phase now.

At least fot the last six months, LTHM and AKE have been trading in tandem. It has been up and down following each other; not in an exact copy but very closely.

So it is very reasonable to believe that AKE reached its Selling Climax on 17 August and is now in Accumulation Phase (just as LTHM is).

Having 4 or 5 red candlesticks in a row going back down to the Selling Climax is a typical move in Accumulation Phase. It is a move for the Secondary Test which is often slightly lower than the low of the Selling Climax. The fact that the volume of each of the last 4 red candlesticks is below average indicates that these 4 red candlesticks are a move for the Secondary Test, and not a sell off. The sp may still go down further tomorrow. And if it does, it may go slightly lower than $13.00. Then it will bounce up.

That is just what I think.

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“And if it does, it may go slightly lower than $13.00. Then it will bounce up.”

The AKE share-price movements appear to be doing just that!?

AKE Price at posting: $13.03 Sentiment: Buy Disclosure: Held
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0 Great analysis

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