WR1 General Discussion, page-31825

Very concerning play now happening.
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Yes WR1 dropped from 61 to 55 from a weekly perspective. It also reached 53. Close to Feb lows of 51.5..
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So what is happening? At this playing the sector, mostly. LI sector is in its worst phase currently. If one were to look at sentiment, I report Sentiment Indicator, we would need a new indicator - Extreme, Extreme Fear. Its really bad. Full stop.
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So what could happen from here? Very uncertain and concerning times. Li sector is in nearly a free fall. Most stocks will not be able to sustain the extremely pessimistic view. General markets also looking like going into correction/consolidation phase. So very likely, we may have to see some more pain before some good gain. But anything can happen, it can turn anytime, so best to play price action.
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From a numbers perspective, first test to hold 51.5 low. if it doesn't, then I can't think of any numbers - Li macro will drive the play. I don't think the stock is currently waiting for an announcement that it can play completely against markets/sector. It can happen, but probability is low. So extreme caution for any new entry.

For anyone interested to know more about facts and figures, look at my other posts.
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