Another nothing week..From a weekly perspective, a drop from 1.7...

Another nothing week.

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From a weekly perspective, a drop from 1.7 to 1.6. Volume is practically dried up. Not much play happening currently.

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So what is happening? Same as last week. Li macro play in control of most Li stocks. Li macro currently still weak. ALB made a new 52 week low this week at 71. But trying to recover now, up to 79, but still below last week. Ganfeng too made a new 52 week low this week. It though has made no 10% recovery from low like ALB, within couple of percent from its low.

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Personally no play for me. Till I see ALB and Ganfeng show some reasonable signs of reversal, I will wait.

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So what may happen next week? PLS offer for LRS, did put some life in a number of Li stocks. So that was positive. But I feel we need more than that, otherwise small enthusiasm may die down slowly. But it gave more than 50% rise to LRS, but not to PLS though. General markets have improved, so that's another positive. Rate cut may happen soon, so at least general markets may support a recovery. But all eyes on ALB, Ganfeng. They will provide a more reliable signal. Let's hope we see that soon. Enjoy your weekend and all the best.