Will we hold or collapse?From a weekly perspective, a drop from...

Will we hold or collapse?

From a weekly perspective, a drop from 9.3 to 7.6. So in 3 weeks it has dropped from 14 to 7.6, nearly 50% - a very big drop, and should be very concerning. Last 3 weeks, 14, 11.5, 9.3 and now 7.6.
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So what's happening here? Last 3 weeks, nearly 50% drop, is unfortunately a big red. Whether we like it or not. It had a big rise. Then a CR. And then a drop. Not a good look. For me its playing with weakness. There is no clear direction. There is a risk in play now. Its individual risk reward who wants to play.
Last week I wrote how the CR raise and price may impact in short term. Somehow it played that way. It was all about 10, and some under 10. So no surprise there.
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Personally as I wrote yesterday i have picked up a few at 7.6. I had got out at 12.5 from my buys at average 4.5. But I didn't buy all, because I am not sure. I bought one-third. Frankly I don't have a strong opinion which way it will go. If it is not looking like holding 7, or early 7, I will exit with a small loss. Otherwise I will buy. That's my play.
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For those interested how the stock is tracking against other REE stocks or who hold multiple REE stocks, I do a Weekly Report across 30 ASX REE stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.

Here is the report for this week.
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https://hotcopper.com.au/threads/enr-weekly-report.7575014/#post-74232587