WR1 General Discussion, page-31735

Can we do higher low from Feb lows?

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Yes WR1 had a small drop from 64.5 to 61 this week. Volume is low to moderate, averaging around 800k per day, so no direction from volume.

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So what is happening? Playing the macro. And macro is not doing great. Lot of Li stocks doing fresh lows every week. Most Li stocks have now breached Feb lows. We did 57 now, still above 51.5 of Feb, but we are coming from much higher level, close to 150, so the drop is significant, and possibly higher than drop of other stocks in this phase. So a work cut out to make sure it doesn't breach 51.5.

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Personally no trades for me this week. I am not trying to play Li stocks till I feel sentiment is changing, or some good price action. Hopefully soon.

So what may happen next week? This uncertainty may continue. ALB which I use as barometer is doing fresh 52 week lows. It's trying to hold 90 now. And struggling. So not great signs, yet. Ganfeng doing wild swings, but still not able to hold gains, did a fresh 52 week low this week. But some signs it wants to turn, so let's see. On the weekend in the weekly report, I had written general markets may go into correction, drop over 10%, it has done around 5% drop from its high, so that too not helping the cause. But many feel the sector has dropped more than that was required, so it could turn. Let's hope it plays out that way. Enjoy your weekend and all the best.