INR (ASX) INR Chart Chat

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, INR had a small drop, moved from 11.5 to 11. But it also made a new 52 week low at 9.5, so not looking good. Not looking great for a long time time. I have been constantly questioned about my posts on this thread, by some faithfuls. I track 90 ASX Li stocks, many US and Chinese as well. I also post across a number of Li stocks. I can tell you honestly, without malice, that posters on each of the thread feel they are different. Nearly every one of them. And that's understandable. That's why they hold. Its only that once you get away from small variations and look at sector as a whole that you can see the similarities. Some will not understand that. Now or never. The Gold sector is playing like Li sector from over 3 years back. Exactly. Blindly. So based on numbers, best to play sector, rather than stock. No advice. One of the reasons I do all these posts is to track the numbers. And I want numbers to guide me, rather than emotions. But I know, for many, win or lose is not a big thing, we live for emotions. So its all right. One day it may come. Much stronger than before. Lets hope.
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But there's a message. Some get too much worked out when I report numbers and my interpretation of numbers. Look back fro 80s, to 60s to 50s, to 40s, to 30s, to 30s, to 20s, to 10s - at least accept what's happening, the numbers, not my posts. I wish you well.
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Major price action indicators-
ALB - gain of around 1%, so kept the gain from last week, and now over 20% from its lows - crossed 65 but could not sustain, for now
Ganfeng - Gain of around 2% for week, Tianqi gain of around 1% - both were in positive last week as well
PLS/LTR - PLS gain of 5%, LTR gain of 12% - so big gains, on top of gains last week
Spot Price - Gain of around 1% for week, after a long time a weekly, not big, but consistent with how all the big stocks are doing
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So what do these numbers say?
There are some signs that a bottom may have been formed, but no confirmation yet.
Also no clear signs of reversal yet. There are no clear signs of reversal for the sector. But there are signs that it may be bottoming out.
All big stocks which I use as indicator - ALB/Ganfenq/Tianqi/PLS/LTR - they are all above the first level, which is 20%.
Second week in a row that all big indicator stocks finished in green
Second time in recent play, LTR is making another attempt to break out. Last attempt it reached 85. Is back in 70s now, so an important play for sector coming there
On the flip side, though Spot had a small gain this week, it is near in last few years low, so a long way to go
Most Li stocks, both ASX and US, are still at or close to their last few years low, so they are not showing any signs of bottom/reversal yet

PersonallyI have not been playing Li stocks as I have mentioned a few times last several months.
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So what may happen next week? On Friday night, US Li stocks were in red. General markets had a big red. So a tentative may be on Monday and then wait for Chinese markets to open and provide some direction.
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Here is the Figures for the Week:.
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Expand

Mr dc 1234, glad you have a disclaimer upfront in your posts now.

I note you refer to " On Friday night, US Li stocks were in red. General markets had a big red "

You state this after your pricing commentary and chart but, dont mention anything about other market outliers like the current GeoPolitical situation ?

With all your long term wisdom , all these years , wouldnt it be sensible to also factor in real time Market Sentiment globally,.eg. key indicators like the recent spike in the Oil price due to the current Middle East escalation ?. Maybe the whole market may be concerned and hence in the red ?

But you did state above :

"Personally I have not been playing Li stocks as I have mentioned a few times last several months. "

Glad to see with all your years of wisdom, you now have a Buy postion on INR

No.	Vol.	Price($)
16	6052140	10.5¢

No.

Vol.

Price($)

6052140

10.5¢

Price($)	Vol.	No.
11.0¢	325159	10

Price($)

Vol.

No.

11.0¢

325159

No.	Vol.	Price($)
16	6052140	0.105
29	3033230	0.100
7	397605	0.099
2	200000	0.098
13	606540	0.096

No.

Vol.

Price($)

6052140

0.105

3033230

0.100

397605

0.099

200000

0.098

606540

0.096

Price($)	Vol.	No.
0.110	325159	10
0.115	307357	5
0.120	404165	10
0.125	511583	14
0.130	724165	9

Price($)

Vol.

No.

0.110

325159

0.115

307357

0.120

404165

0.125

511583

0.130

724165

(20min delay)
Last 10.8¢		Change -0.003(2.27%)		Mkt cap ! $253.2M

Open	High	Low	Value	Volume
11.0¢	11.5¢	10.8¢	$212.0K	1.927M

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