WR1 General Discussion, page-32533

Back to the deck.

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From a weekly perspective, a drop from 57.5 to 53 this week. Volume similar to last week, moderate, so no signal there.

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So what is happening? After a strong play last couple of weeks, and especially last week, WR1 is back to playing the Li macro. The strong play is missing now. In fact, slightly weak. Especially in the context of last 2 weeks. Not sure what happened. Why 40% rise from its bottom of 46.5,and now wanting to go near it. Wasn't on any news, so looks like some traders playing the stock. Last 2 days it touched 50. It has held for now. It would be good to hold this otherwise a new low below 46.5 could come into play.

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Personally no trades for me. As a sector, I am currently playing Uranium, waiting for some signal from Li.

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So what may happen next week? Li sector in slightly better position than last week but not much. ALB has done well and now playing in 90s, 30% above its lows. So there is good hope. It has held this level, rather strongly. Ganfeng is playing truant though. Made another 52 week low yesterday, though recovering today. It needs to get another 20% at least to give hope. Otherwise there will always be danger. General markets are playing well, so no danger from there currently. So signs and hope building for a reversal. Let's hope we get more signs next week. Enjoy your weekend and all the best.