Rising with hesitancy?Yes WC8 gained half cent to finish at...

Rising with hesitancy?

Yes WC8 gained half cent to finish at 50.5c on a moderate volume of over 12m shares traded. Volume was similar last several days, though better than last 2 days. So volume is good and keeps the option open for a surge.
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Today ASX Li stocks were mixed - some green, some red and many flat. Some big stocks like PLS/LTR were still in red, though small, SYA big gains, something specific to stock. So overall a neutral day and we finished neutral as well.
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.So how our play today?

• I thought it was decent, without being spectacular.
• It was still volatile, but slightly less, just did around 8% swing which is below the average
• Its a slow grind after gaining 50% from 36.5 to 54.5 and then falling 20% to 43.5. Its inching up now rather than dashing. We had 3c gain yesterday, so to hold that with a little bit more today is still good.
• Key number to cross up is - our recent high of 54.5, but more important is 62 which may signal the end of downturn. First number was 52, but it still wanted to do back test and now we are not closing above that
• Yesterday we did a high of 50.5, today 52.5. Yesterday low of 43.5 today 48.5 - so numbers look good for next major move
• The best stat I could see is since we came from 101 and lost 50s around a month back, today's low of 48.5 was the highest low we have made in a month. Sometimes the lows give more message than highs. Lets see whether stats help us shortly.

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Personally picked up few more at 49 today. Initially I was thinking it may go to 47.5, but couple of plays around 49 wipes (up and down), gave me a feeling that maybe that's what she has written for today. I was hoping for a higher finish, but those who read my posts may remember, that I have often written that WC8 likes to close in the middle, not always, but often. Signal for some who want entry/exit based on probability. Today again we finished in the middle.
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So what may happen tomorrow? US Li stocks are still not in strength. They are playing a very defensive game, each stock is worrying about survival rather than big jumps. ALB at 114, close to 108 bottom of 52 weeks, so very vulnerable. If it holds here for some time, that may not be bad, but if it gets closer towards 127, that will definetly give a boost to Li stocks. Will that happen? Lets hope so. All the best