PLS 6.18% $2.84 pilbara minerals limited

PLS chart, page-12704

  1. 129 Posts.
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    Hello charting experts, I am baffled by how everyone is so sure about where this is going based on their palm reading predictions. My question confirms my noviceness but asking this for the purpose for learning. There is no doubt PLS is an amazing stock and I had my money in this stock since there was an incident with a contractor in their mining site when the stock was hovering around 14 cents not too long ago. Even then I believed this would be a great stock over time and it proved right. Not considering any other factors, purely from a technical analysis perspective, can you shed some light into why the drop from $5 to $3.50 wasn't a natural movement due to drop in lithium price and the price today should have reflected thag drop. The recent quarterly announcement was a positive surprise but the positivity seems to be have been overhyped, hence it was not able to sustain $5.26 and hence to testing of $4.65 twice. Now every news story + lithium price + new entrants, inflationary pressures, etc. is pointing to further drop (across the sector, not only PLS). Charting aside, many brilliant minds on this forum are so active in promoting upside prediction similar to many other pump and dump stocks. No doubt in the company fundamendals. Can you shed some light why this is not following a mini pump and dump pattern to what happened with BRN shares from $1.60 to 60c (especially the drop in volume in the last couple of trading days)? The share price seems to be overvalued as per morningstar and would not be surprised if Macquarie are the ones putting weight on the selling volume (despite $7.50 price target) to give an impression that the stock is under pressure.

    https://hotcopper.com.au/data/attachments/5034/5034614-a45b64a1308ba1aeadde0695540938ac.jpghttps://hotcopper.com.au/data/attachments/5034/5034618-5bc87fb8ae288cb8b1b3925a407302c2.jpg
 
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Last
$2.84
Change
0.165(6.18%)
Mkt cap ! $8.551B
Open High Low Value Volume
$2.76 $2.88 $2.74 $105.2M 37.35M

Buyers (Bids)

No. Vol. Price($)
3 11079 $2.83
 

Sellers (Offers)

Price($) Vol. No.
$2.84 317108 45
View Market Depth
Last trade - 13.48pm 12/09/2024 (20 minute delay) ?
PLS (ASX) Chart
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