General Discussion, page-148

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andyjumbo

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04/03/22

17:35

Post #: 59991182
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Originally posted by dc1234: ↑

The ASX dragged us down.

Yes, ASX had a red day and with it took down a lot of stocks. We finished 1.5c lower at 35c. Our volume was good, not as high as yesterday, it was around 5.8m shares. Our VWAP average was also 35c, so a fair finish from trading perspective.

ASX Li stocks were also mostly down. The shares I track, average decline was between 3 to 4%. We declined by 4.11%, so just on average.

Although we did not have a good ending this Friday, but for the week we were still ahead. We started the week on 32c, so we gained 3c for the week on 35c. Although I was hoping that we reach 40s, we did cross it but were not able to hold. The good part is that the volume has come back and now it looks only a matter of time. If we continue as we did this week, I am reasonably confident that we could be finishing in 40s sometime next week.

What next - At this stage dow/asx macro is driving Li sector in general. Then there are localised factor with particular stocks which make them run. Similar to last week, this week too there were some very good news around some Li stocks. We have not had that sort of news or run for quite sometime. I think we are due for one. Lets hope we get one next week. Enjoy your weekend and all the best.

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great summary I'm giving it the weekend before I dive back into this one, things look shifty on the futures front, if it's not one thing it's another at the moment , presents great opportunity if you resist the urge. I was hanging over the buy button a few times today!

ESS Price at posting: 35.0¢ Sentiment: Buy Disclosure: Not Held
3 Upvote

0 Great analysis

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General Discussion, page-148

Top Stories

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Is oil undervalued?

Venture to sniff out high-grade REE targets at Jupiter project, WA

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Westgold sets its sights on top five producer status through merger with Karora

GreenX picks up prospective copper project in Germany

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

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