WHEN IS PP?, page-140

Weekly data and thoughts.
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Please not that all my views are for short-term only, and I could be wrong, so please dyor.
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Lithium Sector Overview -
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From a weekly perspective. PMT had a drop, from 34 to 32. Its playing. Moderately weak. Its now trying to hold 30. All the positivity on news to 43 has now dissipated. Playing macro now. Playing with weakness. Numbers to watch is 30 on downside, otherwise it can drop towards 25 easily. Upside, first number is 38. I had got out recently, previous week, but this week on Friday I picked up a few at 31.5. Not with conviction, maybe habit. So lets see.
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So what is happening in the Li sector play? A mixed play, but not unusual as it has happened before. The most recent story from trend perspective is that Chinese Li stocks want to go higher, are going higher, but US/ASX Li stocks not interested. In fact ALB a big dive this week
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Last week I wrote that things are not looking great for Li stocks. For several weeks I have been writing that if ALB does not hold 85/86 mark, very high chance it may fall below 80. It played accordingly. It has now fallen below 80. It made a new low of this phase at 76.70. It is now very close to making a new 52 week low below 71.97. Its on a touching distance, under 10%. Unless something dramatic happens, odds are high of this happening. It was just 2 months back, early December, it reached 113.91, over 55% from its low. Nearly all the gains have been given back.
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So what are the numbers?

• Ganfeng - After coming back from holidays and closed for over a week, started sedately but gained momentum. For the week it gained around 6%, moving from 33.08 to 35.10
• Tianqi - from 30.58 to 32.10, gain around 5%
• ALB - from 84.19 to 77.37, loss of 8%
• PLS/LTR - loss of 3% for the week

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Last week I wrote that things are not looking great for Li stocks. For several weeks I have been writing that if ALB does not hold 85/86 mark, very high chance it may fall below 80. It has now fallen below 80. It made a new low of this phase at 76.70. It is now very close to making a new 52 week low below 71.97. Its on a touching distance, under 10%. Unless something dramatic happens, odds are high of this happening. It was just 2 months back, early December, it reached 113.91, over 55% from its low. Nearly all the gains have been given back. Spot price in stabilising, very small drop for the week now. The gain which we saw recently, looks like taking a breather.
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So what may happen next week? Chinese stocks are doing all right and lets hope it continues. There have been divergence before as well, Chinese versus rest, playing differently. It would not look good if Chinese stocks too start falling. But if ALB and other US/ASX stocks start going up, removing the divergence, then odds of further fall will be greatly reduced. And then we could see Li stocks going up. lets hope it plays that way.
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Here is the Figures for the Week:.
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