Weekly data and thoughts. . Please not that all my views are for short-term only, and I could be wrong, so please dyor. . . . . Lithium Sector Overview- . . From a weekly perspective, WC8 had a small drop, moved from 14.5 to 14. But also made played on 52 week low at 13 this week. The darling stock is in trouble. In 2023, it rose from 2.4c to 69c, a gain of nearly 2800%. It went on to reach 101. Now it wants to give it all away. Chris (MIN) was buying big at 85. Its not us peasants who got it wrong, the so called doyens and experts have also failed miserably. And it shows why its so important to play the sector, rather than the stock., Look at Gold last 2 years. Uranium is coming back, which I playing big now. But some signs of bottoming out. One day, the sun may shine again. We wait.. If things go bad, we are looking at very bad numbers, sometimes there is fine line between economical or not, and WC8 is driving a fine line now. Not a good one to hold for now. But sector can reverse. WC8 can reverse. So can be a good risk/reward. Not for me, for now, but I hope it is for those who are playing. All the best. . . . Major price action indicators-
ALB - gain of around 1%, so kept the gain from last week, and now over 20% from its lows - crossed 65 but could not sustain, for now
Ganfeng - Gain of around 2% for week, Tianqi gain of around 1% - both were in positive last week as well
PLS/LTR - PLS gain of 5%, LTR gain of 12% - so big gains, on top of gains last week
Spot Price - Gain of around 1% for week, after a long time a weekly, not big, but consistent with how all the big stocks are doing
. So what do these numbers say?
There are some signs that a bottom may have been formed, but no confirmation yet.
Also no clear signs of reversal yet. There are no clear signs of reversal for the sector. But there are signs that it may be bottoming out.
All big stocks which I use as indicator - ALB/Ganfenq/Tianqi/PLS/LTR - they are all above the first level, which is 20%.
Second week in a row that all big indicator stocks finished in green
Second time in recent play, LTR is making another attempt to break out. Last attempt it reached 85. Is back in 70s now, so an important play for sector coming there
On the flip side, though Spot had a small gain this week, it is near in last few years low, so a long way to go
Most Li stocks, both ASX and US, are still at or close to their last few years low, so they are not showing any signs of bottom/reversal yet
PersonallyI have not been playing Li stocks as I have mentioned a few times last several months. . So what may happen next week? On Friday night, US Li stocks were in red. General markets had a big red. So a tentative may be on Monday and then wait for Chinese markets to open and provide some direction. . . Here is the Figures for the Week:. . .
WC8 Price at posting:
14.0¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)