Using an esoteric measure to convey bullishness is unsurprising...

Using an esoteric measure to convey bullishness is unsurprising - after all, the more conventional ones show a highly overbought stock that is far more likely to fall than rise. Note where Azure’s long term moving averages are relative to current share price.

As investors learnt (the hard way) with CHN, when the “heat” comes out of a stock, moving averages count. Don’t overlook the insane RSI levels Azure currently trades at too, noting that it’s beginning to decline. For its RSI to fall below overbought territory (<70, currently 87.69) the fall would need to be catastrophic. A quick fall by $1 could do it I guess.

My charts say we’re heading for a plunge, even if I overlook my negative views on lithium and Azure as a whole. As a current investor with a big holding, I hope I’m totally wrong!

DYOR.