An overlay on my chart is a bit too much work for me at the moment as I don't have metals prices in my data downloads. I'd have to find a source for the data and then format it so that I can upload it into my Amibroker-Metastock data base. But I did find a Cobalt price chart on the internet. So a rough comparison can be made between the two, i.e. ARL SP and Cobalt price, by looking at the stacked charts shown below. Each chart starts from November 2017.
The only observation that I can make is that the ARL SP is more volatile than the Cobalt price and that the ARL SP seems to lead the Cobalt price in that it peaked earlier and started to fall earlier.
A more meaningful comparison could be made I think with the NYSE.LIT ETF. This is the Global X Lithium & Battery Tech ETF. Its chart starting from November 2018 is shown below. As you can see, the fall in the ARL SP seems to have followed a similar pattern to that of this ETF. LIT has had a good bounce back since the low in October. It has broken above its 50 SMA and momentum is rising. If this strength flows through to the other batteries metals stocks then this has to be a positive for ARL I think.
All IMO of course. You can come to your own conclusions re the existence and significance of any correlations between the charts.
ARL Price at posting:
69.0¢ Sentiment: Hold Disclosure: Held
