LRS General Discussion, page-17050

Not much of a day, or week.

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Yes LRS lost half cent to finish on 21c, on a lower volume of just over 8m shares traded.

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So the whole week we played in the zone around 20 to 24. On upper level initially, but ALB raise and Li stocks doing a pullback and testing the lower levels of the price was a feature of the rest of the week. So nothing substantial happened either up or down. We wait.

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So where are we now? An undecided zone. No strong signal to move this either up or down. Upper level we are not able to breach 24. Lower level we are holding 20, nearly. So a weak play happening. Many, including me, waiting to see how it breaks this zone before deciding what next to do. So volume also slightly down. Although it may look disappointing to some, but we did reach 12.5 on the early Feb low test. So if we can hold 20, I feel its a great platform for the next leg, at least up to 28, what happens after that, there will be many factors in play, both Li macro and any news about us. So at this stage, although it's annoying we are not going up, I think we are holding well. But that's just my view, I could be wrong, so please dyor.

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So what may happen next week? I think we are still in an indecisive state. The recovery that had started, got a pause, a pullback. And that can be healthy, as long as we don't collapse and and return to lower levels. Spot price still looking good, and if it continues on that path, it may only be a matter of time when Li stocks will make the most of it. I still believe we take a lot of cue from US Li stocks. So if ALB can get over 128, and then get to 140s, Li punters will latch on to it, and we may see new highs of this reversal from 40s. Will that happen? Let's hope so. Enjoy your weekend and all the best.