On the subject of fellow Li miners, this little gem on the Dow Jones seems to be explaining why we are seeing ORE go for a little run. You generally find if it is a change in sentiment within the industry, it translates to all stocks within that sector at some stage. If Morgans are turning bullish on ORE, then it can't be too long before another house changes its view on GXY.
DJ Orocobre Back on Radar of Lithium Bulls -- Market Talk
2319 GMT [Dow Jones]--Is Argentina-focused lithium miner Orocobre (ORE.AU) charging up? Morgans thinks a share-price correction since January may be reversing direction. Orocobre broke above resistance of A$3.16 on Friday, and Morgans says technical charts signal strong buying interest. "A decisive break on a closing basis above resistance of A$3.16 is highly likely and will trigger a rally to A$3.60," Morgans says. "Over the medium term, levels above A$4.00 are achievable." ORE last traded at A$3.10. ([email protected]; @dwinningWSJ)
(END) Dow Jones Newswires
May 01, 2017 19:19 ET (23:19 GMT)
On the subject of fellow Li miners, this little gem on the Dow...
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