I know absolutely nothing about technical analysis. But if the...

I know absolutely nothing about technical analysis. But if the chart posted a couple of days ago is common knowledge, why wouldn't every shareholder get in front of this impending disaster and sell immediately? That would push the price to near zero! Why continue to hold as the share price will inevitably go down (according to the rules of TA)? I am not trying to be disrespectful or argue. I don't know a thing about TA, so it's easier for me to dismiss it It makes sense in theory, but in reality the world is a complicated place. Every stock is in a downturn until it isn't. I remember Woodside Petroleum in 2020/21 at ten year lows until the oil price started to move up, then the BHP merger was announced. The situation changed quickly after that. Maybe PLS had a similar chart in 2020. I'm just not mathematically minded, or smart enough to comprehend anything from TA.

In regard to offtake agreements, I watched a video on the Crux Investor channel on YouTube over the weekend. The Jervois (ASX cobalt junior) CEO was being interviewed. He was negative about non-producing junior miners signing unnecessary offtake agreements, which lock-in a lot of future production at today's prices, to appease anxious shareholders, and give the appearance of positive activity which boosts the share price in the short term. He described it as "a sugar hit" and was saying this damages a company in the long run. Cobalt and graphite are similarly out of favour at the moment. It was an interesting point I hadn't heard before. Jervois -- now that's a share price chart which looks truly ugly and not my type of investment.

Maybe there is some price manipulation on the ASX (probably those pesky TA traders, grrrrr ), but I would argue the main manipulator of commodity prices is the Chinese government. They can stockpile material, reduce order sizes, and subsidise their own producers for only so long. Eventually, that rubber band snaps back hard the other way. RNU's deposit is the world's second largest with cost of production similar to China's. If the current spot price is a problem for us, it must be a major issue for other, smaller, proposed mines around the world. If a few lesser quality projects do not go ahead, or are significantly delayed which reduces tomorrow's potential supply, then today's price weakness could be a blessing in disguise if demand increases quickly, as it's forecasted to do.