The last few days there has been higher than normal trading volume on WC8
Volume (4w avg) is ~7M
Yesterday the volume was ~19M The 2 days prior were also higher than usual volume (i think around 14M)
The trading pattern has also changed (there's usually a big buy and a big sell on either side that move automatically based on the price action (bots)). The past few days have been different. A lot of selling ofcourse across the sector, but big buyers stepping in with big orders
It could be nothing, It could also simply be that the insto trader has changed their trading strategy (or more traders have arrived / people betting on this being the bottom etc) .... but i feel like its possible that something is brewing here or someone is taking a position. Could be AustralianSuper (as they have been buying Aus Lith recently https://www.bloomberg.com/news/articles/2024-01-17/australiansuper-to-swoop-on-lithium-stocks-after-price-collapse ) Yet to see a substantial holder notice here though.
Not feeling too confident about lithium in the short term (price wise - i dont see it improving in the short term / H1). But if theres going to be 1 more M&A in this space, my bet is on WC8
Assay results are also due which should be interesting
WC8 Price at posting:
42.3¢ Sentiment: Buy Disclosure: Held
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