Will this bullish run take us to my next level of 170?Yes WR1...

Will this bullish run take us to my next level of 170?

Yes WR1 gained 21c to finish on 147. Volume very good, second highest in a month, just over 4.2m shares traded.

Yesterday we got a higher print on inflation numbers in US. The markets didn't like it, as it may reduce of rate cuts happening sooner. SP 500 lost close to 1%. But the one to panic more was Russell 2000, small caps, representing many commodity and resource stocks. It lost around 2.5% - so not a good look.
ALB our indicator too lost just over 1% to be on 127, below the neutral number 128 I follow. Till now its playing exactly like last time ALB finished in 130s. Stayed there for a day, then to 129 level, then to 127 level. If pattern is to follow we may get a slight green tonight. Last time it decreased till 121 before coming back. So lets see what's the play this time. SQM still in neutral zone, a bit more positive than ALB, above 50.

WR1 got a very good announcement. In fact we have had few good announcement last few days. But our rise started around 7 trading days back from 78.5 low made, before the announcement. Maybe, speculating, some were in the know and loading up. But it doesn't matter. We have nearly doubled in last 7 trading days. Charts, Fundamentals - all looking bullish. I know many who missed the run may be waiting for a pullback. It can happen, but sometimes the runs can be much higher before we see consolidation. But it won't surprise me, as well might be healthy to do some consolidation, back test. In my last post on Tuesday I had written two numbers 145 and 170 if we were going up. We reached the first target today. If the run continues I won't be surprised to see 170 come into play. If we were to consolidate, and do back test, I can see only one number around 130, so its likely that at this stage we may not get a big back test, some play in 140s and then we move. Lets hope it plays out that way, but the overall sector is still neutral to negative, so please dyor.

Personally I had written on Tuesday that I had bought back my shares at 121. Today I bought some more at average 130 as that was one number I wanted to see it cross. My average now is 123. I will hold for now, unless I see some unusual selling - so 140 is the number I am hoping it should hold if it goes a bit down, otherwise play for 170.

So what may happen tomorrow? Futures flat at this stage. Pattern indicating some green for ALB, but margin was small, so not a big even based on pattern. But ALB likes to do big gains, over 5% in a day. It would be good to have another such day and move back to 130s. That may be bullish. Will that happen? Lets hope so. All the best.