Miners across the board are getting smashed at the moment, and Lithium charts were hit as a group with a variety of ugly reversal bars on the 5th April. I've included a comparison chart of some of the Lithiums I pay attention to just to show the tight correlation, despite being in different stages on the chart and development.
Below is a daily chart which shows the consolidation since September, some major S&R levels and some Wyckoff markups. It's always tricky trying to read whether it's re-accumulation or distribution while price movements unfold, but I was convinced we were in a Phase D upward trend within the trading range after price broke up through the top of the descending channel or supply line. There had been some bullish divergence and a nice test of major support prior to breaking up, but demand did not follow through and price has since fallen too far since the 4th April top to consider it a back up to the creek type of test, so I guess price wasn't ready for the Phase E markup yet - or was ready but got side-swiped along with the rest of the industry and now has to re-set with some more Phase C testing. Or worse case a Phase D downtrend has already started.
LTR is hitting the volatility extremes that usually mean it needs a breather and my momentum oscillator is hitting oversold territory. It's still trading above the lower bounds of a consolidation trading range where support has been found previously at some very clear levels, so any positive change to market sentiment while price is at these levels could potentially see a decent bounce. So some interesting action coming up - good luck all!
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Last
59.5¢ |
Change
-0.030(4.80%) |
Mkt cap ! $1.442B |
Open | High | Low | Value | Volume |
62.0¢ | 62.5¢ | 59.0¢ | $8.852M | 14.66M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 212314 | 59.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
60.0¢ | 310624 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
15 | 199399 | 0.595 |
19 | 474195 | 0.590 |
10 | 202143 | 0.585 |
33 | 263700 | 0.580 |
6 | 87691 | 0.575 |
Price($) | Vol. | No. |
---|---|---|
0.600 | 110624 | 7 |
0.605 | 285741 | 8 |
0.610 | 261056 | 5 |
0.615 | 141300 | 6 |
0.620 | 122300 | 5 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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