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Zeeshan

7,654 Posts.

618

08/08/19

18:52

Post #: 39931174
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Originally posted by dmaivn: ↑

I observed since 10am opening, all lithium stocks look lame until the tide turned on the ASX as it moved from negative into positive. The volumes look normal too. I think it's just that trades hoped it was near term bottom and they bought. Perhaps some shorts also covered too as they saw little to gain holding. Tomorrow is Friday. I don't see any positive sign about US and China trade war. The US markets are still too high and should correct a lot more. We probably will see a classic early morning mild pop and lithium stocks will drop due to profit taking and swing traders taking some chips off the table for the weekend rest.

My take is that if US markets looked poor over night, any early pop tomorrow would be the sell signal and one could buy back at end of the day for cheaper prices. There is no fear of missing out here.

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for other lithium miners yes i agree volume wasnt that flash but for GXY the volume was the highest in the last month.

GXY not only has a big jump today but it was backed up by a big volume considering the volume we have seen traded in last 30 days.

GXY Price at posting: $1.27 Sentiment: Hold Disclosure: Held
8 Upvote

0 Great analysis

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