Very concerning play now happening..Yes LRS dropped from 15 to...

Very concerning play now happening.
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Yes LRS dropped from 15 to 14.5 from a weekly perspective. It also reached 13. Close to Feb lows of 12.5..
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So what is happening? At this playing the sector, mostly. LI sector is in its worst phase currently. If one were to look at sentiment, I report Sentiment Indicator, we would need a new indicator - Extreme, Extreme Fear. Its really bad. Full stop.
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So what could happen from here? Very uncertain and concerning times. Li sector is in nearly a free fall. Most stocks will not be able to sustain the extremely pessimistic view. General markets also looking like going into correction/consolidation phase. So very likely, we may have to see some more pain before some good gain. But anything can happen, it can turn anytime, so best to play price action.
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From a numbers perspective, first test to hold 12.5 low. if it doesn't, then I can't think of any numbers - Li macro will drive the play. LRS had held very well for quite some time compared to other Li stocks, unfortunately, it is now falling in line and not able to overcome the big macro downward pressure. I feel, unless there is an announcement, or if there is a dramatic reversal in Li stocks, 12.5 may be breached, many may see a value around 10, so that number could be a magnet as well a major play. Lets see.

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-75059145