I like your graphics and supporting discussion.
I see LTR as heavily oversold. If the lithium price has flattened then hopefully it's gearing up for a bounce.
If nothing suddenly negative happens (including midyear report) then I can see the SP reaching the $1.40's in the next 3 weeks. Showing some support at $1.285 (bold thinking).
This is the kind of activity I really want to see for a convincing break through of the existing channel; indicating the upward trend.
If we are on the cusp of lithium prices increasing, then I expect an upside gap. 7% shorts loosing their pants will also help!
Gina is in the box seat to TO and as everyone knows LTR won't go for anything less than $3 PS (which was the offer in a depressed market).
With increasing ore prices (hopefully due to declining supply), the company being on target to restart mining mid-2024 and lowering interest rates I'd expect they will find $760M. Once again supporting an upward trend.
As for last Friday's huge 11.9% increase; there were low sell volumes so I could see the price extending on last week; but based on previous occasions I'm not expecting much until the end of the week (also holiday in US on Monday - tomorrow).
So far I'm impressed with the sharp upward trend of late. More green candles please!
Thanks FlashPoint for your inspiration.
MorningStar 'fair value' is $2.397.
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Last
$1.23 |
Change
-0.020(1.61%) |
Mkt cap ! $2.970B |
Open | High | Low | Value | Volume |
$1.20 | $1.24 | $1.19 | $7.736M | 6.340M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 43813 | $1.23 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.23 | 5420 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 413 | 1.285 |
1 | 2369 | 1.260 |
1 | 100 | 1.250 |
1 | 2016 | 1.240 |
2 | 8054 | 1.235 |
Price($) | Vol. | No. |
---|---|---|
1.170 | 295 | 1 |
1.180 | 177 | 1 |
1.195 | 495 | 2 |
1.220 | 4336 | 3 |
1.225 | 400 | 1 |
Last trade - 16.10pm 01/05/2024 (20 minute delay) ? |
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Last
$1.23 |
  |
Change
-0.020 ( 0.80 %) |
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Open | High | Low | Volume | ||
$1.19 | $1.24 | $1.19 | 1796946 | ||
Last updated 15.59pm 01/05/2024 ? |
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