Weekly data and thoughts. . . Lithium Sector Overview- . . From a weekly perspective, WC8 had a decent drop, from 24.5 to 21. In between a drop to 19.5. Getting close to 52 week low of 18.5. WC8 is a hot and cold stock, very good on uptrend, very weak on downtrend, those wanting to play short-term, which I do. Lets hope next leg is uptrend, otherwise 18.5 may be in question. . Major price action indicators though are not bad -
ALB - Gain of 5% for the week, moved from 77.37 to 81.21
Ganfeng - Gain of around 2.5% from the week - moved from 35.10 to 36.01
PLS/LTR - Loss of around 3% for the week
Spot Price - Down slightly for the week
. So what do these numbers say? Chinese play is positive. ALB has dodged a bullet coming close to its 52 week low but now over 80, a psychological number. rest of the players very indecisive at this stage. This can lead to slight decline, which we say in most ASX Li play this week. . So what may happen next week? If the way Chinese Li stocks are playing, and ALB recovering, if it continues for another week the danger of making fresh lows would have been averted. So lets hope it plays out that way. . . Here is the Figures for the Week:.. .
WC8 Price at posting:
21.0¢ Sentiment: Hold Disclosure: Not Held
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