Will 19.5 hold?.Yes LRS lost 2c to finish at 19.5, on slightly...

Will 19.5 hold?
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Yes LRS lost 2c to finish at 19.5, on slightly lower volume day of just over 9m shares traded. So comparatively a bigger drop for us compared to some other ASX Li stocks today.

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Yesterday US Markets did well, SP 500 rising over 0.6% to close at 5149. So might look like a good day, but some things were still not great. It failed to get over its all time high, though it was a bit away, but closed towards the low of day. And for us, Russell 2000 was again in bad shape - not good for resource/risk-on type of assets. ASX started tentatively, playing in red, but got back to similar gain like US markets by the end of the day.

US Li stocks could not capitalise on the big rise in the indices, and more played as what Russell 2000 indicated. Many finished in red. The one I am tracking, ALB, did finish in green, but not big - at 124 now. SQM was in red. So ALB is still in a very indecisive zone, below 128 I feel it is playing with weakness - so although it was green yesterday, not enough to put a positive sentiment, which was reflected in how ASX Li stocks played today.

With no help from overnight US Li play, ASX Li were mixed, but more red than green. But not panicking, dropping a few only, waiting to see what happens overnight. So ASX Li still in consolidation mode and most playing in their usual zone of last few weeks. No clear direction yet.
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LRS is back on 19.5. For last 3 weeks we have held 19.5. Its in our trading range of 19.5 to 23.5. But why was there a bigger push today? Was it because of indices play that now we are there, a normal churn or an indication that something related to LRS? Not sure. But yesterday's trading and today's start I felt was not normal. We finished on 23 on Thursday, then 22, then 21.5 and today 19.5. So 3 days of red now, drop of 15%. At this stage because its still in usual trading range, we could come back tomorrow, or shortly, I hope, but please dyor.
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Personally I let go some of my shares on open today at 21. I had thought if we open in red I will let some go. I was in two minds whether to pick up in closing auction, I did pick up some, but smaller than I let go. Our drop could be normal, but I was seeing the weakness, so was thinking what could it be. So I looked at our cash, looked healthy at 50m. Then looked at previous CRs. In Oct 35m raised. Last April 37.5m raised. Its March now. Is there another one in next few weeks? I don't know, my knowledge is not that great. But keeping that at the back of mind if I see any unusual weakness. Hopefully we do a big rise from here before thinking of CR.
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So what may happen tomorrow? Again it depends on US Li tonight. ALB still in no-man's land. Needs to hold 120s, at least 118. Upside, it at least needs to get over 128.This is the same I wrote few days back, so we can see not much is happening. Spot price though is still doing well. And so if it continues, it might not take much for sentiment to change and ALB to get back to 140s. But first 128. That will be at least neutral to positive tomorrow for us. Will that happen? Lets hope so. All the best.