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I rarely give GA.Well deserved here.

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GARETH78

8,366 Posts.

2976

01/05/24

20:44

Post #: 73617271
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Originally posted by dawgfather: ↑

Updated Macro data. Hopefully self explanatory.

Things that jumped out at me:

- No company I track has achieved a 52 week low in 2024.
- The market is being very selecting with awarding gains in the lithium space - the junior end of the market occupies the top 3 gains (WR1, LRS and WC8). This seems to reflect the idea that the companies who don't need to sell spod into the current low prices are hurt the least and are able to recognise upside for good exploration / development news as the market knows they will quite possibly be selling into higher prices from 2026 onwards.
- Most stocks lost at least 70% (52 week high to 52 week low) or more during the huge recent sell down
- 11 stocks have made new 52 week lows or equaled their 52 week lows in the last 30 days.
- 5 stocks have made a 'recent high' in the last 30 days (including LRS). Recent high is based on the daily chart for each.
- LRS is currently trading at 25% of Sigma's market cap (I think that can increase to ~50% in the second half of this year, assuming success with offtake, DFS and Planalto).
- Average number of days since the 52 week low across all stocks = 49 days
- Average number of days since the 52 week high across all stocks = 318 days

Obviously if the sector is going to start turning around then we should start seeing an increase in the number of stocks hitting recent highs and eventually 52 week highs (and fewer hitting 52 week lows).

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I rarely give GA.

Well deserved here.

LRS Price at posting: 22.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

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