PLS chart, page-23060

Hi Rainman

It's been a while.

I agree with you. We have slightly different FIB's although it matter little. My starting point is 0.125 Mar 2020 peak at 5.66 Oct 2022.

I have the 61.8% FIB at 2.24 and the 76.4% FIB at 1.43.


ALB from that same starting point sailed straight past their 61.8% retracement FIB in Oct 2023 almost a year ago and also did the same at the 76.4% FIB
It's currently half way between the 76.6 and 100% FIB.

Same story for Ganfeng, Tianqi and SQM,. So almost the complete unravelling of most big Lith companies and it seems that PLS is just lagging behind.

I started my two hand drawn charts from the PLS quarterlies ages ago. I soon become disenchanted with the sector, took action, and have just been watching the quarterlies for a number of quarters.

The $US Qtrly price for 5.3% shipped Spod in my chart Jun 2021 was $US826 and rose to $US5,668 Dec 2022. By the Sep Qtr 2023 it sailed past the 61.8% FIB by the Dec Qtr through the 76.4% FIB, Then traced fully by Mar 2024 to $US804.

Similar story with my $AUD revenue from the reports it went past the 76.4% FIB.

So, in my opinion, PLS is just playing catchup with reality. With all the companies I have mention their SP has retraced well past that 76.4% FIB

So while you are focusing on 61.8% FIB at 2.16, my focus is beyond that. There is a so far an unfilled gap at 1.785 to 1.82 and that 76.4% FIB lies below that, Sure there could be a bounce or two along the way, but I am not interested in playing that game of catching falling daggers in the hope of catching a DCB for some profit. If your timing is wrong your hands bleed.

There are other stocks in other sectors that hold far more promise to me. I haven't given the Lith sector away completely, I will eventually add to my token position, but when I firstly see a serious trend change in the PLS quarterlies , and secondly when that is backed up by a reversal in trend in the Lith companies I mentioned earlier.

If you see various creatures drinking from the same waterhole growing increasingly sick and losing weight, it's best not to take a drink. Find another waterhole for a while.

Go well and DYOR.

cheers Lies

PS I don't doubt that the waterhole will eventually become healthy, but suspect it's time is measured not in months or quarters but years.