I was in MLX earlier this year. The most recent CBL exit is still penciled on my chart at $1.10 (Jan 5, 2018 low). I actually exited at $1.14 around Jan 18 based on previous sharp chart peak (circa Nov 13, 2017). MACD had also just started to roll over from an 'overbought' position. I made 14% on the trade.
The risk of failure is generally higher when CBL entry signals occur when declining shorter-term GMMAs are below declining longer-term GMMAs.
The risk was higher at $1.20 than where it is now at $0.83. A 7/21 EMA crossover can be used to go long MLX. By this time MACD and slow stochastic would have also already turned up. But of course that setup is future.
There are better looking charts around. MLX dropping below the 200-day EMA is not bullish. Even most of the larger cap lithium mining stock charts look healthier than MLX. Also shows that even when a stock makes a new 52-week high like MLX did back in Jan 12, 2018 ($1.227), it has fallen 32% since then. Hence appropriate position sizing (max ~ 10%) and stop loss exit point is essential.
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