Is LRS playing Li macro or has a story of its own?..Yes, LRS now...

Is LRS playing Li macro or has a story of its own?.

.

Yes, LRS now playing in a slightly weaker play. Last week it finished on 23.5, today 20. So a drop indicating of weakness.

.

So what's happening? Li macro currently very weak. I use ALB as a barometer. 128 is neutral, below that weakness. Yesterday it closed at 108, touching 107. It's 52 week low is 106. Danger of losing that tonight. We all thought Feb lows were our lows for good for sometime. But many Li stocks are now doing fresh lows. LRS had a lot of buffer. But it's always good to be alert. Sometimes fear can make people do unpredictable things. So best not to assume anything but follow price action. From a numbers perspective, get over 22 first, then 24. On weakness, hold 17.

.

The only other thing to consider is CR. In one of the other stocks that I write weekly, I had written a CR will be there by end of June for them. I started writing that from April. I was bashed up thoroughly. This week they announced a CR. So it can happen. Previously also I have written here, just based on previous CRs, that another one is due soon. I am not sure if some weakness is because some may be in the know, not to be ruled out I feel, in fact, I won't be surprised.

.
Couple of years back, June 2022, we had a big drop, including general markets. I saw a big profit of mine wiped away. I read a lot on general markets, etc after that, and I write now in my weekly reports. The big thing I learnt and now apply, is to minimise my losses rather than looking to maximise profit, especially if things are not going well. Otherwise do the opposite. . So if something is not looking good, I exit on a small loss or a small gain. Last week I wrote I exited at 25, my buy was 23, so nothing big. But I also wrote last week that I don't like the macro play. Somehow it has played out that way where my fear was. I have still not bought, watching. .

.

So. what may happen next week? Any announcement will make a difference. We are in ASX June tax transaction, that may also have an impact on trading, usually a weak period. Li macro has to hold. ALB has to hold, otherwise it will drag the sector, unfortunately LRS may also get affected. Overall, it's a bad time to be Li stock holder, but many play for long, for them it could be an opportunity. Let's hope we have a better next week. Enjoy your weekend and all the best.