Chart of LIT (Global Lithium & Battery sector ETF). Charts very well in conjunction with moving averages. Has been a sell since early 2018 with no signs of a recovery at the moment. Flirting once again with longer term support line.
Lithium supply continues and is expected to remain in surplus for another 2 (+/-) years (pressure on Lithium pricing) but thereafter very likely to be in shortfall.
An excellent summary of the current status and outlook for the industry available in this pdf document :
https://gallery.mailchimp.com/4bff9...8b3d-5d03e1fcd928/Lithium_s_Price_Paradox.pdf
I am definitely interested in the battery space. However, given the dominant trend in both local and overseas Lithium and battery related stocks, the medium term supply/demand outlook and my bias toward a general market correction, I am staying out till further notice.
Would not surprise if stocks start to turn aggressively without notice sometime in the future but anticipate that occurring later rather then sooner. I have a personal bias towards PLS.
Chart of LIT (Global Lithium & Battery sector ETF). Charts very...
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Last
3,011.6 |
Change
9.700(0.32%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 3,001.9 | 3,013.5 | 3,001.9 |
| XSO (ASX) Chart |