AZL 7.14% 1.5¢ arizona lithium limited

Can the bulls take the final leap?.Yes AGE lost 1 pip to finish...

  1. 4,635 Posts.
    lightbulb Created with Sketch. 3865
    Can the bulls take the final leap?
    .

    Yes AGE lost 1 pip to finish at 7.4c. Our volume was lower today but in similar range as last few days, just over 8m shares traded. Another attempt to cross above 7.7, but not enough push for that. Still playing in upper zone which is good.
    .

    ASX Li stocks were very mixed with no strong direction. Of the 73 stocks that I track, it was flat, there was no gain or loss on average.
    .
    Overnight US Li stocks did much better than us - average gain around 2%, though the ETF of LIT was nearly flat, slight red.
    .
    What next:
    .
    Yesterday SP 500 had another good day. On no catalyst (neutral Earnings/Economic data), I had expected a slight pull back. But Meta provided the boost that tech stocks needed. SP 500 finished at 4179, though it reached 4195 intra day, gaining around 1.5% for the day. ASX though again did not gain that much, just over 0.6%. It was tech driven rally as DOW Jones actually fell for the day - so not all sectors participated in the day.
    .
    Yesterday I had written that we need to cross 4170 to reach bull market. That was a typo, its actually 4190 (3491 is bottom + 20% which is 698). So though we crossed that number to 4195 but finished below. So not sure if a tick is there as yet. So for bull case we need to finish above 4190, so somewhere in 4200s. If we fall, now its very important to hold 4100 the double top, other 4070 and 4000.
    .
    The die-hard bears have not given up. Now they are saying Powell is bluffing for political reason and we will still go down shortly - big stock Earning Reports will drag us down. Also dumb money (retail) buying and smart money (institutions) not participating in the rally.
    .
    Lead indicators VIX, Yields, Dollar Index - are still favourable, though VIX increased slightly.
    .
    So what will happen tonight? US Futures in some red. Asian markets mixed - some green/some red. Bitcoin in mid 23k - not very confident. Very crucial Unemployment and Non-Farm data before market opens. Big stocks to report earnings - strong direction can be provided by them. We have had 4 straight green days in which SP 500 has gained another 4%. If all data was neutral, earnings are neutral - probability is pointing towards a red, a back test of some numbers. Many believe a back test of some numbers would be healthy for next leg - say a test of 4140 or even 4100 - but these need to hold to get into bull mode. We made first attempt to get to 4200 yesterday. Another push above 4200 will surely douse all the bearish talks and some economic data could provide that. Will that happen? Lets hope so. Enjoy your weekend and all the best.

 
watchlist Created with Sketch. Add AZL (ASX) to my watchlist
(20min delay)
Last
1.5¢
Change
0.001(7.14%)
Mkt cap ! $67.10M
Open High Low Value Volume
1.4¢ 1.5¢ 1.4¢ $12.25K 875.4K

Buyers (Bids)

No. Vol. Price($)
26 5388847 1.4¢
 

Sellers (Offers)

Price($) Vol. No.
1.5¢ 2646681 16
View Market Depth
Last trade - 16.10pm 06/09/2024 (20 minute delay) ?
AZL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.