Will Li macro take over the play here?.Yes LRS slowly catching...

Will Li macro take over the play here?

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Yes LRS slowly catching up to the sector. From a weekly perspective, down from 18.5 to 17, volume I thought was average, nothing dramatic to give an indication.

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LRS held well for a long time when others were losing big. I mean from Feb lows, more than half ASX Li stocks have gone lower than that. LRS reached 12.5, so still much better than other plays. In fact it was doing much better, but first signs of not able to absorb macro weakness. It reached 17 on Monday, but today 16. 5. It still finished on 17, but signs of weakness. Possibly, some were expecting news and that didn't happen. Also June tax transactions sell. So hopefully it's just a day thing.

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Personally I am writing after 3 weeks. I wrote I exited at 25 from my buy at 23. I had written it needs to hold 22, then 20, otherwise 17 will come in play. We are already playing here

Downside, 15 is next play, needs to get over 20 for confidence.

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So what may happen next week? Li macro looked very strong couple of days back, strong rise in China. Ganfeng gaining nearly 8%. We needed a follow through for confirmation. Instead, Ganfeng lost 3% yesterday, 2%, indicating it may have been a false breakout, a dead cat bounce. ALB after reaching 100, back to 96, in fear of losing 92, for another low. So overall macro not looking great. But that could change. A slight sentiment change couple of days back, around 8 to 10%, so it could change quickly. But there could be downside before the up. But let's hope the sector has bottomed here, and next week is a reversal week. Enjoy your weekend and all the best.