You can find some suggestions that a long term bull flag may have formed with the flag pole created in the lead up to the Dec 22 unfurling of the flag, with the leg up starting from scout about this price.
The fundamental picture is very complex. We are not at the beginning on the down trend that’s for sure. Tom Price from analysts Panmure Liberim (UK) sees a bounce in lithium carbonate in early 2025 to $25,000,00 US some 2.5 times the current price. Just because the current share price is about the same as it was when spodumene was $4000 US may suggest share price decline from here but it’s a different world now things have moved forward new projects more known globally about the industry less naive bullish enthusiasm no current Chinese subsidies that created the boom up to 22 so that maths based on 2.5 years ago does not necessarily apply.
Buy hold or sell? The more I get in and out the more I seem to be exposed to making ‘mistakes’ or just getting caught out again and again. That’s why people go long and ultra high frequency bots do what they do I suppose. If I sold now she would I get back in? Would I hold off waiting for a significant pullback that never comes? Would I be scared out again soon after buying back in? Would I pay too much? Would I sell out too soon, or not sell when hindsight goes on to tell me I should have? Would I get spooked by all the voices and abandon the whole idea of getting back in? Would I make the mistake of waiting for the bottom or the for the high? Time in the markets wins over timing the markets, is the adage.
So Monday might be painful too, and not end there. But there seem to be enough reasons to hold. What I do depends on risk appetite, patience, do I need money now, are there margins to reed, what are people saying about the medium to long term? I’m not good at trading. But I can be good at holding. If I double my money in 5 years, that’s got to be good, right, even 50 percent? I’m not greedy. 5 per cent per annum is considered good elsewhere. The industry seeks to show sufficient fundamental prospects to go long and toua gh this period out. Most holders aren’t selling, after all, less than 1 per cent trades hands every day. What can go down 50 c in one week can fo he reverse. And has. The business case is far from lost, it seems to me.
Hold seems to be the consensus among 18 leading brokers U read. But do what you need to it’s your money.
DYOR
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You can find some suggestions that a long term bull flag may...
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Last
$3.19 |
Change
0.080(2.57%) |
Mkt cap ! $9.606B |
Open | High | Low | Value | Volume |
$3.18 | $3.27 | $3.15 | $80.46M | 25.06M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 22572 | $3.18 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.20 | 15000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 21572 | 3.180 |
4 | 97816 | 3.170 |
8 | 358661 | 3.160 |
9 | 188725 | 3.150 |
4 | 72150 | 3.140 |
Price($) | Vol. | No. |
---|---|---|
3.210 | 113028 | 6 |
3.220 | 110807 | 11 |
3.230 | 353220 | 10 |
3.240 | 96982 | 8 |
3.250 | 123370 | 13 |
Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
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