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ProCapitalism

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13/10/18

22:02

Post #: 36115429
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Originally posted by ProCapitalism ↑

No problems mate.

Happy to answer questions & take constructive criticism.

I haven't followed PLS or KDR closely enough to comment too much on their charts.

GXY generally moves in the direction of the lithium price & the LIT ETF in the US. So I would imagine most of the big LI stocks would shadow those movements as well. Many investors who own GXY would own other LI stocks as well (I do) so it's the herd mentality at play here. If people buy into PLS they may buy GXY at the same time & vice versa.

The purple line is the ETF

View attachment 1280081

From what I can see on the PLS chart below, in TA terms, this was a genuine move down as the RSI & SP are both trending down. IMO PLS is reacting to genuine market sentiment at the moment. Plus the shorts aren't as active in PLS when compared to GXY percentage wise.

View attachment 1280091

IMO our SP on the other hand was manipulated & pushed down to create the illusion GXY is just as weak as other LI stocks on the ASX.

We are more advanced in the development of our mines, profitable, shipping the white gold & have no debt, therefore we have more potential than other LI stocks.

The bullish divergence exposes the manipulation in the charts looking at the RSI & MACD. The SP is trending down & the other indicators are trending up. It's a signal the move is false & not a true indication of what's happening in the market.

View attachment 1280095

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Just following on from this last post.

I know we recorded a new low this year for GXY recently but it's still confirmation of a bullish divergence on the GXY daily chart as the SP continues to trend down but the MACD & RSI are still trending up (bullish pattern).

This move down is fake IMO & not a real reflection of GXY strength.

Plus we have a huge gap that needs to be filled on the upside.

GXY Price at posting: $2.37 Sentiment: Buy Disclosure: Held
14 Upvote

3 Great analysis

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