Still playing in the zoneYes, we continued to trade around the...

Still playing in the zone

Yes, we continued to trade around the 17c-20c zone as we have done so now for nearly two weeks. We lost half cent to finish on 17.5c. Our volume was on the lower side, around 25m shares traded. Our VWAP average was 18.1c, yet we finished at 17.5c.

ASX Li stocks were again on decline. Of the 31 stocks that I track, average decline was just under 1%.

What was still good about today - Although we declined, it was on a very low volume. Its good to lose on low volume. Secondly, our VWAP was over 18c, which should have been fair finish. So overall, we are still strongly trading in this zone for last couple of weeks. It was a weak ASX Li day, still we had VWAP of 18c. It was a good buying opportunity for those still with coins. I did sell some other Li stocks today to rotate, so will have more fund on Monday - lets see.

What next - I am still looking for that big green Li day. Today was the 6th consecutive day many Li stocks were declining. Although ASX Ordinaries were near 1.3% up, commodities and Li sector were not buying it today. But that will change. Li macros which the PLS auction has also showed is stronger than ever. This is a blip which will be overcome. As I wrote on the weekend report - we had good Jan, bad Feb, good March and now bad April. So a big good May is in store. And tomorrow is the last day of April. Lets hope we finish the month strongly. All the best.