The change in momentum W3 speaks of is entirely accurate. But as...

The change in momentum W3 speaks of is entirely accurate. But as far as I’m aware, he/she has not been able to articulate a reason for it, other than what can be deduced from charts in a technical analysis, which has been entirely unconvincing to many here. I believe there’s a very obvious and fundamental explanation for the momentum change which I don’t think has been mentioned on this thread as yet. The charts I’ve shared previously have alluded to it, with some clear correlations between QPM and the nickel price. QPM tracked with nickel up to its recent peaks, and both cooled at the same time from those peaks, for arguably the exact same reason.

Looking at both the QPM and Nickel closing price charts on 20 October, Nickel reached a near 10 year peak of USD $21,046. QPM was at 27 cents and also looking very bullish.The very next day the news was filled with headlines about Tesla changing all it’s standard range battery cell chemistry from being NCA (nickel) based to LFP based.

In my opinion, this was the very clear catalyst for the subsequent weakness in QPM’s share price that we’ve experienced over the last month, as well as weaker nickel price performance. The “T” word is huge in EV stocks for obvious reasons.Not even fantastic QPM announcements about finance progress and carbon negative operations could overcome the weakened sentiment for very long.

However nickel has since recovered to a new peak of USD$21,130 today. QPM has been a little slower to follow suit as the weakened sentiment has taken a while longer to reverse. But it feels like it is reversing now, as the nickel price has heated right back up and perhaps as the market realises the rising demand for nickel is actually going nowhere, despite what Tesla and others want to do with their cheaper model battery chemistries.Nickel is simply the superior metal for EV batteries currently and it will be for many years to come. Better range, lighter weight etc, demonstrated by Tesla themselves keeping nickel based batteries in place for their more expensive, better performing models.