...take a look at the ALB chart, it has broken through its 52-week lows and now poised to break below $100 to possibly $93 at the first stop for a -10% correction and $84.5 as the second stop for an -18% correction. Notice also on the All time view that we saw the perfect X-mas tree formation from 2015 to 2020 when its 2020 price returned closer to its price closer to when it started its uptrend in 2015, so anyone who held from 2015 to March 2020 basically saw its price gained more than 300% to almost losing it all back. The same X-tree cycle is now on route to its $56 low in March 2020, but will probably stop or bottom somewhere above that but below $84 should we get a US recession. That could be anything between -20% to -40% corrective decline ahead.
As for LTR, a break below $1 is most likely on Monday with big falls in lithium stocks in US on Friday, 95c the next stop for an -8.65% decline, followed by 90c (-13.5%) but with a US recession scenario, I won't exclude prospect of an eventual fall to 50c ($1.2B valuation) for a -51% decline.
When I sounded this months ago, holders were well positioned to sell into strength, that they didn't.....in just a short period, LTR has lost -30% from the recent $1.50 high.
The longer holders procrastinate, the bigger will be the short term pain. Yes, I have no doubt they would be all prepared to endure short term pain for long term gain. Yet, as I mentioned earlier today, they won't envisage a price movement situation as with CHN that they would wish they'd sell earlier to be in the position to buy back at much lower price.
LS — TradingView
