Crucial week coming up?Yes I feel this is a crucial week for...

Crucial week coming up?


Yes I feel this is a crucial week for LRS. Reason being Li macro is still very dodgy. LRS has comparatively done better than many other Li stocks. But now in last 2 weeks it has been toying with 16.5, but only slightly. I feel it needs to hold 17. I feel it is crucial for next play. So lets see what's in store. Big players decide what to do, hopefully they are comfortable at this zone.
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This is what I have written for Li sector review, not a good look, I was feeling bad writing this as many are hurting in the sector, but I know what I write or feel will not make a difference, so still wrote it.
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Lithium Sector overview - (My comments similar to last week) Few weeks back I wrote that - "Lithium sector is in serious trouble". Nothing has changed. We are in more trouble. At this stage, one would think the sector is nearly dead. No new money will come here. Just in last 6 months, across ASX 90 Li stocks, we have lost 39%, only 7 of 90 stocks is in green for calendar year 2024. It is dire. Every week a lot of stocks make fresh 52 week lows. But this week was slightly better, because China stocks had a good rise one day, so for the week we were up 2%. So better, but only slightly better. We need very good days, for weeks before one can feel comfortable that it is coming back. So overall, extreme caution to play this sector. Of course, if things turn round, it can turn quickly, those buying now would do very well. But more risk averse would think of waiting, seeing some signs of reversal before committing. Its individual risk/reward. My sentiment is to play with extreme

For those interested how stock is tracking against other Lithium stocks or who hold multiple Lithium stocks, I do a Weekly Report across 90 ASX Li stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.


Here is the report for this week.
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https://hotcopper.com.au/threads/sya-weekly-report.6951924/page-3#post-74639228