In a very indecisive state?Yes WR1 looks like playing a game...

In a very indecisive state?

Yes WR1 looks like playing a game where its not sure of - in which direction is the next leg. From a weekly perspective, a small drop from 112 to 105.5. Volume was, no indication, to the level it may look like indifference - many just playing the motions. For the whole week, it played between 99.5 to 110, and every day, yes every day, finished between 105/106. That is the indecisive state I was talking about. Such a narrow finish for the whole week

So what's happening here? Waiting for a catalyst - some announcement. Otherwise, playing Li macro. The Li macro is not great currently. For those who read my posts, I use ALB as a barometer. Its playing in weakness. Its toying with first major level of weakness - 118. Next 112. Then drop below 106. So not looking good. I don't think most Li stocks will do well if ALB goes south. In fact. most will go down with it - whether we like it or not. I have been posting the co-relation in my weekly reports for months, so I am not talking about 1 week data.

Personally, as I wrote earlier, in my 4th play in last 6 months in WR1, I exited at break even. I have not yet bought back. I am watching. WR1 has been one of the few stocks in my last 3 years that I really don't remember for selling at a loss, I may have, I don't remember, I may have, but it could be small. So I am looking for my next win. I know I will get another one, hopefully.

So what may happen next week? Unless we get an announcement of our own, we really have to hope, that Li macro plays well. Also June tax transactions are on us. Usually a weak ASX period. There have been many talks about 90 gap or 80 play etc. Some may get it right. At this stage, as I wrote, for me its in an indecisive state. Saying which direction it will go, how far it will go - is pure guess. Some may get it right and may claim to be a genius. Question is - if someone asks me - what price will you buy? I like to buy on an uptrend. price is not important for me. The trend is. But I have a number. In my last 4 plays I had said, in one play, my second play, I had bought at 80.5 and sold at 112. If things don't go well, I will buy there again. I play numbers. And I like that number. For holders, key is to get over 112. Then 118. But big one 130. Lets hope it plays that way. All the best.