Oh what a day. . We are in the height of ASX Li stocks not doing well. My post around one week back talked about how the ASX Li stocks are not in sync with say ALB, or Ganfeng. . In the midst of that uncertainty, there was little chance any announcement would be taken positively. . Many may think its about WC8. I still don't believe it. Most Li stocks are playing macro. Any news is played to the macro. . And what is the macro doing? . Clearly few trends . Ganfeng/ALB are not making further gains, but they are holding. . ASX Li stocks, they are not doing well. Last Wednesday I wrote how ASX Li stocks are trying to play a weak game like ASX U stocks. Its been a week since my last post, but that weakness is still holding. ASX Li stocks are still weaker than other jurisdiction Li stocks. We don't know why. . Lots of posts today. Many talking fundamentals. Some talking price. . I don't know what's going to happen. . But based on my experience around trading patterns, I have an opinion. Its just an opinion though, and everything is based on probability. . So what is my opinion -
WC8, if it had to drop big, there was a good chance it may have done today.
If Li macro goes down, there is good chance that WC8 may also go down.
If Li macro goes up - Ganfeng/ALB etc, there is a good chance WC8 may also go up.
I feel, we are now dependent on Li macro. Anyone not liking today's news, good chance out. We need help from macro, to hold this level, or go up.
I may be wrong, but I feel, if Li macro gets better, WC8 will come back strongly.
WC8 is a hot and cold stock - any change in sentiment, can see a 50% increase at least towards high 30s.
. This game is so much dependent on sentiment. Which itself can be volatile. . My point is - if Li macro behaves positively for next one week, there is good chance WC8 will be much higher from here. If Li macro is weak, WC8, like most other ASX Li stocks may ease. So firmly believing that major direction will be provided by Li macro, rather than MRE etc. Lets see. . I am holding for now. WC8 has been good to me for long. I am hoping there is another one coming. All the best.
WC8 Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
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