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.
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Last
$2.36 |
Change
-0.050(2.07%) |
Mkt cap ! $7.106B |
Open | High | Low | Value | Volume |
$2.44 | $2.45 | $2.31 | $66.76M | 28.28M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22020 | $2.35 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.36 | 189205 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22020 | 2.350 |
2 | 94512 | 2.340 |
4 | 46896 | 2.330 |
19 | 616320 | 2.320 |
18 | 236718 | 2.310 |
Price($) | Vol. | No. |
---|---|---|
2.360 | 77332 | 4 |
2.370 | 409351 | 5 |
2.380 | 80271 | 9 |
2.390 | 81300 | 6 |
2.400 | 136542 | 19 |
Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
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