My take on that is catalysts such as the AKE Livent merger are exactly that - a catalyst. They result in swift movements across the sector as companies are rerated back towards a more appropriate valuation.
Last week almost all lithium cos from junior explorers to full swing nameplate producers all moved upwards on the news, but not all by the same amount.
PLS was primed for an upwards move and was already on the way due to a positive outlook for spod prices for the latter half of the year, but the merger news gave it the kick up the bum needed to get moving.
A week ago I was expecting PLS to move swiftly towards a wave 3 target of the 1.618 fib around $4.60 before taking a breather, with a chance of it going further to the 2.618 fib around $5.30.
That now looks the more likely scenario and I think it will continue towards that target in the short term.
These events certainly don't require charts to be thrush out of the window, and I don't expect it will be the last of its kind either.
- Forums
- ASX - By Stock
- PLS
- PLS chart
PLS chart, page-15356
-
-
- There are more pages in this discussion • 8,295 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PLS (ASX) to my watchlist
(20min delay)
|
|||||
Last
$2.83 |
Change
0.090(3.28%) |
Mkt cap ! $8.522B |
Open | High | Low | Value | Volume |
$2.75 | $2.83 | $2.72 | $39.65M | 14.17M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1106 | $2.82 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.83 | 211057 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1106 | 2.820 |
1 | 2000 | 2.810 |
5 | 369228 | 2.800 |
1 | 75128 | 2.790 |
6 | 50415 | 2.780 |
Price($) | Vol. | No. |
---|---|---|
2.830 | 211057 | 8 |
2.840 | 72076 | 9 |
2.850 | 84260 | 25 |
2.860 | 39915 | 8 |
2.870 | 34648 | 6 |
Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
Featured News
PLS (ASX) Chart |