Hey Cheeky, I see you reporting my posts, but not commenting...

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bombersmadd

4,089 Posts.

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08/03/24

18:25

Post #: 72820901
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Originally posted by Cheeky-Charm: ↑

I do agree with your reasons for having a bearish outlook for LKE and I understand wholeheartedly!

There is certainly left hand supply as you mentioned, and its seems it would all be from the 18c to 16c levels.

IF LKE can continue to make the series of higher lows, and remain within this trend and lithium prices continue upwards,

I would need to respect all of that and ask myself if 14c highs get cleared where is the next overhead at? For me that's 16c to 18c zone if today's Lithium Intraday dump was to entice more shorts in, then all it would need is 1 hint of positive sounding announcement to push it up 30%-50%.
12c to 18c is a 50% move up and I don't suspect THIS would be hard to create?

Speculative buy, albeit with a plan. We will have to find out how things go this week as I am willing to hold until Friday on this Outlined below these deep red seller candles have held last time and pushed up. Volumes also show someone going long on the base, and shortsell data shows they also shorted into this support zone. Next volume blocks show the short squeeze buyers covering, aswell as now prices coming back down to previous support zones at 12c, indicating shorts covering as they got squeezed, also looks like dipbuyers + longs adding to positions. Time will tell if this squeezes or does the reverse

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Hey Cheeky,

I see you reporting my posts, but not commenting yourself....

Your comments this week that you were holding until Friday & hoping for 18c were intriguing to say to least

You are now trapped over the weekend and heading down below 10c

A friendly reminder that no shorts were burnt ! OUCH E MUMA

LKE Price at posting: 11.5¢ Sentiment: Sell Disclosure: Not Held
7 Upvote

0 Great analysis

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