LRS General Discussion, page-18503

The big 15, can it continue to hold?

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Yes LRS had a small drop from the weekly perspective, from 15.5 to 15. Volume moderate, around 6m per day, no strong direction on volume yet.

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So what is happening? Playing the macro, but slightly better than many other Li stocks. The macro is not good. Lots of Li stocks doing fresh lows. Many have breached Feb lows. So in that context I feel LRS has done better than many other Li stocks. A good announcement helped as well. So do we think 15 will hold or we will also drift towards Feb lows of 12.5? Difficult to say. Unless the sector turns, any prediction would be guess work. So I feel we need to wait for the sector to turn and hope 15 hols for now. But if the sector doesn't turn soon, we could see some weakness.

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Personally I have not yet bought back. Waiting to see some change in macro, in sentiment, in price action.

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So what may happen next week? I feel a big week is coming up for LRS. Many Li stocks have succumbed, LRS holding to certain extent. A hold here will be very good when the turns. But macro is very iffy. ALB that I use as barometer, is doing fresh 52 week lows every week, trying to hold 90 now. Ganfeng also doing fresh lows, also doing wild swings, a better play in last 2 days, but nothing convincing as of now. So very uncertain times, still, I feel. But that could change suddenly. Sentiment is a big factor here, and a small change there could easily give 30 to 50% quick gains to stocks. Let's hope it plays out that way. Enjoy your weekend and all the best.