As yet the positive change in LIT has not been able to move AJMs' trend, but I think that it is not far away, and then we will get a second push up with the first shipment, so I am feeling some excitement for the first time in a while.
LIT has continued its breakaway from the trendline, the recent low was $30.72 it closed last night at $33.32.
A lot of lithiums on the ASX had good positive closes yesterday, several of them are having trend changes that correlate to LIT - which is pretty much what you would expect.
What is not so readily intuitive is the fact that many cobalts on ASX also had their best day in months yesterday; CLQ, ARL, COB (also many others) had banner days and look to be mirroring recent LITs' ascent.
The thing is if the factories are buying lithium and the outlook there is on the up, then they will have be buying cobalt too. LIT is comprised 42% by 3 largest lithium miners but the rest (58%) of LIT is battery manufacturers and the likes of Tesla.
Was also interesting to see some of the vanadiums put in big days yesterday too.
AJM Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
