I believe the Dec quarter report will be out tomorrow.
Does anyone know what are the expectations for tomorrow? I have no idea. I only get in and out based on price action. I do not have the time to analyze their business performance, especially for a mining stock.
Mining stocks are generally at the mercy of the market conditions. They don't have any influence over the price of the commodities they sell.
Having said that I had to exit my position today and took some 10% profit on my way out. Not bad to get 10% in one week
I think I should sit on the fence to see what happens tomorrow after the quartely update is out.
This time last year the share price dropped some 7% after the quarterly update. I hope it is different tomorrow, but not too sure given the most recent downgrade on their lithium business.
Based on recent price action, there is a real possibility that the share price will want to retest the most recent low of $6.76 before a bottom is confirmed.
I wish you all the best
Cheers!
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