Current price action of EV raw material stocks is indicative of the unwinding of what is a very crowded trade. And when everyone owns them, who else is left to buy? That's the time to be contrarian. This was the PLS train at $3.80
Could easily go back to $1 if spod price goes back to <$1k. I'm not saying it will, but if it does, share price will definitely be around that level if you do basic PE calculations. The market is forward looking and looking past the current elevated lithium pricing and seeing more moderated pricing that is below current levels.
Next support level is $2.80 and the inevitable gap fill at $2.73 now that $3.04 has been cracked.
I don't think the supply vs demand imbalance is as big as many in the industry are making it out to be.. Listen to the head of Mineral Resources and how they are going to slowly add supply.... If there was this big differential between supply and demand, why not bring supply online faster and milk the current lithium price? They have the ability to do it. So why aren't think? I think his comments show how sensitive the market is to new supply coming online which would equal out the imbalance and bring back the price of spod.
- Forums
- ASX - By Stock
- PLS
- PLS chart
PLS chart, page-5107
-
- There are more pages in this discussion • 17,131 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
|
|||||
Last
$3.07 |
Change
-0.190(5.83%) |
Mkt cap ! $9.239B |
Open | High | Low | Value | Volume |
$3.19 | $3.20 | $3.07 | $96.53M | 30.85M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
41 | 815921 | $3.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.08 | 309816 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
26 | 195171 | 3.060 |
50 | 157222 | 3.050 |
9 | 32502 | 3.040 |
15 | 74596 | 3.030 |
14 | 32496 | 3.020 |
Price($) | Vol. | No. |
---|---|---|
3.090 | 400231 | 3 |
3.110 | 17026 | 2 |
3.120 | 19982 | 6 |
3.130 | 28145 | 4 |
3.140 | 28903 | 5 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
Featured News
PLS (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online