WR1 3.92% 53.0¢ winsome resources limited

WR1 General Discussion, page-32546

  1. 4,589 Posts.
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    I think we are reaching some important points in Li sector play based on what is happening in last couple of weeks.
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    There are no confirmation yet, but there are some initial signs of bottoming/reversal. Caution is - we got those signals many times before in last 2 years, but it didn't play out that way. But one day it will. Not sure if that day has come, but odds are increasing based on the drop that has happened. Lets hope that these odds keep on increasing.

    WR1 has to hold 50 to stay in contention, worst case 46.5. First up level is 63.5, the bar has been set high. Anything in between is usual play, no specific direction. Lets hope WR1 does the necessary. Any news around Prairie will be a boost. We are getting there. Slowly.

    This is what I wrote in my Weekly Report for Li sector, anyone wanting to know more, please look at my other posts.
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    • Lithium Sector overview - Another uncertain week, and still not providing a firm direction. Spot price is on the up. ALB is close to 30% up from its lows - that is one of the best results in a long time. ALB did make an effort this week to get into triple figures, but is facing a lot of resistance currently. Last week it finished at 90.50, this week at 90.25, so slightly down for the week. But I think its still very positive that it has held nearly 30% gains from its bottom of 71 couple of weeks back. Previous week we had 2 green weeks in my 90 stocks that I track after a while, before that 4 weeks of red. This week its back in red losing average 3% for the week. Last week I had mentioned how Ganfeng is diverging from ALB, from US Li stocks. Last week it finished at near 52 week low. This week it a made a fresh 52 week low, but after that is coming back. Now its around 7% from its lows, so a much better play, but still some divergence from ALB. Last 2 days were strong. So maybe it is lagging and coming back. Ganfeng is a big stock. A market leader. It has to join the party, otherwise there may not be a party. Last week I had written, this divergence cannot stay, either ALB has to come down or Ganfeng to go up. ALB didn't make any gains this but Ganfeng did. So playing to that theory that the divergence gap has to close. For a very good feel, ALB has to get near 106. I feel, Ganfeng around 35/37 zone, both around 50% up from its lows. Although that will look very good, but the drop has been brutal, still lot to cover, but there will hope and odds of bottoming and reversing for the sector would increase considerably.


 
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Last
53.0¢
Change
0.020(3.92%)
Mkt cap ! $114.6M
Open High Low Value Volume
52.5¢ 53.0¢ 50.0¢ $248.8K 482.9K

Buyers (Bids)

No. Vol. Price($)
1 17560 52.5¢
 

Sellers (Offers)

Price($) Vol. No.
53.0¢ 7263 1
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Last trade - 16.10pm 30/08/2024 (20 minute delay) ?
WR1 (ASX) Chart
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