Well, can WC8 continue to have its own play?.
From a weekly perspective, a small gain from 28.5 to 29.5 this week. It didn't reach the high of 32 last week, but neither the low of 26.5 of last week. Volumes no direction.
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So what is happening? Last week I wrote "WC8 is playing its own game". I still believe it is. In stronger terms. Its playing much stronger than most Li stocks. Most Li stocks are struggling to hold their 52 week lows, or are close to it. WC8 is nearly 40% from its 52 week lows. Definetly a much stronger play. Clearly a different play. But why is that? If I knew, I would have bought the stock. I am still not convinced, only because I am not buying any Li stocks currently. But if I wanted to, WC8 would have ben top of the list. Something is there. I don't know what. Long time back, now nearly 2 years back, when I played from 30s to 90s, I was writing one thing every day (all my old posts should be there), that something is happening. At that time, overall environment was different. I got that feeling. I took a plunge. It was very fruitful. I am still getting the same vibes, but nothing inside me is telling me to take the plunge. So my head is telling me not to, heart saying, go for it, something is happening. I am in a lose/lose situation, I feel. Li macro is telling me not to buy Li stocks. WC8 is telling me to buy WC8. I am going with Li macro. Not sure right, but I will jump in on more confirmation.
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So what may happen next week? Li sector in better position than last week, but not much. ALB has done well and currently playing in 90s, up 30% from its lows. So there is good hope. It has held this level, rather strongly. Ganfeng is playing truant though. Made another 52 week low this week, though recovering today. It needs to rise another 20% to give good hope. Otherwise we may still have to wait. General markets are playing well, so no danger from there. So signs and hope of reversal building. Let's hope we get more positive signs next week. Enjoy your weekend and all the best.
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