another mystic meg where’s your candlesticks ? See gln for what...

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Lithiumpanties

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16/06/25

07:33

Post #: 79441481
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Originally posted by dc1234: ↑

Weekly data and thoughts.
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Please not that all my views are for short-term only, and I could be wrong, so please dyor.
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Lithium Sector Overview-
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From a weekly perspective, GLN had a small gain, moved from 9.3 to 9.4. But also made a new low of 8.7 this week. A far cry from 233 high I remember, a drop of close to 93%. Its been brutal. Everything that could go wrong, has gone wrong, for the sector, more for GLN. But some signs of bottoming out. One day, the sun may shine again. We wait..
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Major price action indicators-
ALB - gain of around 7%, so very good week, and now over 20% from its lows - which is the first good indicator for going higher
Ganfeng - Gain of around 2.5% for week, Tianqi gain of around 4% - both are over 20% from their lows
PLS/LTR - PLS gain of 3%, LTR gain of 4% - so moderate gains
Spot Price - Loss of over 1% for week, now a drop of 10% for the month
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So what do these numbers say? There are no clear signs of reversal for the sector. But there are signs that it may be bottoming out. We have heard that before, so we have to be cautious. As I said, numbers are improving, but no clear signs yet around people like me who have seen it all, getting in now. But there are large number of long term holders, so for them, its a good sign. There is hope, something good may happen, sooner than later. Other reality is PLS, it made a new 52 week low of 1.07 this week. If couple of years back someone had said that PLS may go back to 1, people would have thought, person has gone crazy. Unfortunately, that is a reality. So we have to be cautious. If things go bad, it can really go bad.
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PersonallyI have not been playing Li stocks. Some scalping, that's it. Gold sector is doing well last couple of years, a lazy play there would have earned a lot instead of seeing drop in portfolio. Something similar we saw 3 years back in Lithium. I am playing Uranium sector big now. I have got out of nearly all my other plays and playing the sector, besides a few goldies and couple of random stocks in REE.
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So what may happen next week? On Friday, US Li stocks had decent gain. General markets big green. But we wait for Monday play as we open on Tuesday. Lets hope the recent trend continues. All the best.
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Here is the Figures for the Week:.
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another mystic meg where’s your candlesticks ? See gln for what it was and now is , only positive I see is oil is about to skyrocket sending buyers for ev’s which may lift lithium prices but don’t hold your breath as lithium is in abundance
GLN Price at posting: 9.4¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 9.3¢		Change -0.003(3.13%)		Mkt cap ! $89.09M

Open	High	Low	Value	Volume
9.7¢	9.7¢	9.3¢	$144.3K	1.535M

Buyers (Bids)

No.	Vol.	Price($)
1	96804	9.3¢

Sellers (Offers)

Price($)	Vol.	No.
9.4¢	41387	1

View Market Depth

No.	Vol.	Price($)
1	96804	0.093
6	152032	0.092
2	95914	0.091
3	97000	0.090
1	11235	0.089

Price($)	Vol.	No.
0.094	41387	1
0.095	3034	1
0.096	50000	1
0.097	195157	3
0.099	394000	2

Last trade - 16.10pm 17/06/2025 (20 minute delay)

GLN (ASX) Chart

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