ASX: Pilbara Minerals
SP: 39c
MC: $600 M
Cash: $209 M
Debt: $100 M
Pilbara minerals is a soon to be Lithium producer from its Pilgangoora hard rock resource.
the stock fell under its 40c - 45c support zone on heavy volume but only dropped 6c below the zone to a 34c close, which never held long. It has been sitting in the area for a few weeks now forming an apex. Today marks the lowest volume day in a year. With average volume in the 25m - 30m, today managed just 5M shares traded.
I am therefore expecting a breakout to happen in the coming days.
