PLL General Discussion, page-2599

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RobertoQ

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01/10/24

07:49

Post #: 75917391
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Originally posted by dc1234: ↑

Li sector in slightly bullish mode.I feel next week will define what's going to happen in medium term (next 3 months). If Li sector can hold this levels, odds are not bad. If they build on this, odds will considerably increase..
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PLL has to build now. This is the time. It was toying with play around early 10s for now, a low of 10. Lot of bad blood. But with sector improving, things could change. Sometimes its all about sentiment. Its a big factor. A rise of 50/100% on sentiment is not uncommon. Same when going down. I feel we need to get over 5 to feel comfortable. Li macro may also have a major role to play. Lets hope its positive. On up side, first number I am watching is 19. Yes, 14 has been a big resistance, we are at 14. If we cross that, I feel we will reach 19. . On lower side I don't have a number, but 10, the 52 week low may come into play, but I will think if 12.5 doesn't look like holding. Hopefully it doesn't go there. I have a good feeling, but lets see, best to follow price action. We have come a long way from 100+ to 10 in just over 2 years, it will take an effort to get there.
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This is what I wrote in my Weekly Report for Li sector, anyone wanting to know more about how 90 Li stocks have tracked, general market behaviour, other sectors, please look at my other posts.
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Lithium Sector overview- This week Li sector has given hopes that the sector may have bottomed and we could see a reversal. Many ASX and US Li stocks were over 20% from their lows last week. This week they gained further, and many are now over 30% rom their lows. The only issue was Ganfeng. It was doing new lows every week. And price was within 2% of its lows. I had written that we cannot have a party, unless Ganfeng joins the party. So the divergence has to go - either ASX/US Li stocks fall, or Ganfeng rise. And what happened? Ganfeng made a weekly gain of around 25% this week, it has removed the divergence, and its saying - lets have the party. It was lagging behind, so while many stocks gained 10/15%, Ganfeng went big for 25, to catch up. But its still early days. For over 2 years, we have seen some of these bursts happening. Unfortunately none of them materialised. And soon stocks gave up the gains, and then went lower. And lower. So that can still happen. We need confirmation, hopefully in the next few days and weeks, whether we really have a reversal. The first check will be for ALB to get over 106, Ganfeng to get over 35/36. If they get over that, and most importantly, stay there, odds of a reversal would considerably increase. Till then, its best to follow price. I have gone big in the sector last 2 days, hoping that we see a reversal. But if the signs are not good, then I may exit. Please dyor, check risk/reward, I have taken a punt.

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It is not about share prices it is ALL about movements in the volatile underlying commodity. Simple as that.
PLL Price at posting: 13.5¢ Sentiment: Sell Disclosure: Not Held
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Last 13.5¢		Change 0.000(0.00%)		Mkt cap ! $55.40M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

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No.	Vol.	Price($)
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PLL General Discussion, page-2599

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PLL General Discussion, page-2599

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