Ann: Quarterly Activities Report - June 2018, page-127

Daily.
Positives.
Apart from the first attempt to break the down trend for 12 days bought on by the early release of the quarterly the only other potential sign of a reversal in the making is the width of the stoch’s against their sig lines and the close being at the same close as the previous day which is pretty much right on the 61% line of the larger 18 month trend.
The sp has been tracking the bottom Bollinger line down all week & this is currently very wide spread.
The two day support at  $0.19 looks promising particularly as the market can assimilate the details of the quarterly over the weekend but $0.18 remains the more likely target in the short term.

Negatives.
The Stoch 5 & 14 are both below their oversold lines & trending down.
The MACD & Histogram are trending down & also below their sig lines.
The increase in volume & close at the days low appears very negative in the s/t.

Weekly.
Positives
The weekly support at $0.18 is yet to be tested but seems likely.
As with the daily there are few if any positives to talk up on the weekly time frame.
Both the  Stoch 5 & 14 have gone very wide from their sig line’s. Usually a precursor to a reversal.

Negatives.
Increasing volume & close at the low.
All the usual indicators are trending down..

Outlook.
With the early release of the quarterly & the information in that, there can be no denying the continual improvements to the fundamentals and so with that in mind while looking at the charts I would expect the support at $0.18 hold firm if the mm’s decide to keep selling pressure on.
I am still expecting the sp to be up around $0.30 before the end of this month.

Regarding the charts in isolation and ignoring the positives in the quarterly, it is hard to see a recovery happening anytime soon and it would appear that the $0.18 support will be tested on the next bar.
There is also now a very real possibility that the sp will go through that & test the rising L/T trend (Green) line. That level is approximately $0.16.
There is no fundamental reason for us to go there but then there has been no reason for the sp to come down to where we are now either.
If we hit the $0.18 I would be still expecting a bounce if for no other reason than it was very strong support on the earlier selloff and should provide one again this time if it becomes necessary. Maybe a double bottom as we return the full 100% of that recovery.
One can only hope that sanity will prevail and after reading the quarterly over the weekend, Monday will see the start of a recovery back to $0.30’s.

For anyone with a low risk tolerance or looking for a quick turn over now is maybe not the time to try & second guess the market and jump in without considering the down side risk as shown on the charts.
It would probably be smarter to wait until we recover back above $0.21 and the manipulators are done.
Tentative support is $0.19 with $0.18 coming in a strong second.
Immediate resistance is that down trending thick blue line on the daily currently $0.205 & with another immediately above that around $0.23.

Any down side risk imo has been well and truly put to bed long ago but what do I know.

One only has to consider the announcement that MS have taken a major position in another Li stock after earlier telling all and sundry that Li was not a good place to be investing to understand the scale of the manipulations that happen and are being totally ignored by ASIC the ASX the Govt & any other regulatory body that should be right on to this crap.

Hold those shares tight people and make them pay, our days in the sun are near.
Sit back, watch, wait and then enjoy that time.