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
$1.04 |
Change
0.038(3.75%) |
Mkt cap ! $2.521B |
Open | High | Low | Value | Volume |
$1.02 | $1.06 | $1.02 | $5.626M | 5.433M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
41 | 278149 | $1.04 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.04 | 88908 | 46 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
35 | 150123 | 1.035 |
22 | 231586 | 1.030 |
22 | 329928 | 1.025 |
16 | 271100 | 1.020 |
10 | 381618 | 1.015 |
Price($) | Vol. | No. |
---|---|---|
1.040 | 58759 | 45 |
1.045 | 188597 | 25 |
1.050 | 248447 | 15 |
1.055 | 263117 | 6 |
1.060 | 181250 | 5 |
Last trade - 13.18pm 18/06/2024 (20 minute delay) ? |
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Last
$1.04 |
  |
Change
0.038 ( 3.25 %) |
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Open | High | Low | Volume | ||
$1.02 | $1.06 | $1.02 | 1509666 | ||
Last updated 13.36pm 18/06/2024 ? |
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