Li sector at critical level?
Yes SYA gained 4c to finish at 4.4. Volume was decent, just over 94m shares traded.
The whole Li sector is at a critical level. Most punters thinking - is this the bottom or more to come? As I have mentioned before I use ALB as one measure. Last week it had tested the bottom at 112. For last 2 days somehow its holding the level. There was a chance it could move quickly towards 100, or do double bottom and move up. It has moved up but has not crossed the first critical level around 127. Yesterday it did reach 127 but gave up good gains for the day, though still finishing green, is now around 122 mark. It needs to get over 127 and finish over it. Next level is around mid 140s - then it would have done a full circle after making low of 112 earlier, reaching around high 140s and then going back to 112 to reverse. Lets see what's in store.
SYA was a good mover today gaining around 10%. Last time we had a double digit gain was when we had moved to 7.4. I had written before that 7.5 is a critical number to get very bullish, but unfortunately it didn't cross last time. I had written recently whether SYA may touch 3.9 - that may represent 90% drop from its 39c top it reached, and would have played out same as CXO - from 180s to 18.5. So that has been done. Is that it, now can we move up? Difficult to say as sector sentiment is still very fragile. For a larger gain we may need its help, but some decent gains could still be made on individual announcements. Number wise, lower is again 3.9 to hold. Upside, to really get out from here, we need to get over 5.1, our previous low before this phase of play.
Personally had written in the Weekly Report that I may exit if 4.5 does not look like holding - I did but not all. Bought back at 4.1, so my average now for this phase is 4.3, it was 4.5 last week..
.
So what may happen tomorrow? Its a short week and last trading day of the week. Much depends on US Li overnight. Today many Li stocks were wanting to get out, many finished in green but there were equal number of reds - so although a small move up has started, its feeble for now. I have a feeling if we get another good US Li tonight, this time many stocks may do a runner, we already had a small run, next sprint may take us over 5.1. Will that happen? Lets hope so. All the best.
- Forums
- ASX - By Stock
- General Discussion Topics
Li sector at critical level?Yes SYA gained 4c to finish at 4.4....
-
- There are more pages in this discussion • 13,941 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SYA (ASX) to my watchlist
(20min delay)
|
|||||
Last
2.7¢ |
Change
0.001(3.85%) |
Mkt cap ! $277.9M |
Open | High | Low | Value | Volume |
2.7¢ | 2.8¢ | 2.6¢ | $373.5K | 13.94M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 304708 | 2.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.8¢ | 6844913 | 26 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 159964 | 0.027 |
61 | 11858402 | 0.026 |
67 | 19858927 | 0.025 |
52 | 22397527 | 0.024 |
29 | 8248780 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.028 | 6844913 | 26 |
0.029 | 6801833 | 27 |
0.030 | 8232621 | 47 |
0.031 | 2174886 | 14 |
0.032 | 4434966 | 16 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
SYA (ASX) Chart |
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online