WR1 General Discussion, page-32910

A much better for Li sector this week and the numbers in my weekly report reflecting that as well.
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WR1 has to hold current levels. What this week has shown that when the bounce comes, reversal happens, it can be very swift. Large gains could be made in just few days. But whether we have reached that stage, I am not sure. Coming week will give more indication.

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 - A very good week for Li sector, in the scheme of things. Some news around CATL led to bumper day in Li stocks. On Monday, the whole sector was in panic mode. Most Li stocks making fresh 52 week lows that day. But from Wednesday things changed. Up to 20 to 30% average gains in many stocks from their lows. Friday a bit of tempering, but still stocks did well for the week. Many big stocks like LTR, PLS, MIN, LRS, WC8, INR, SYA etc doing double digits gain. So all should be good, we should have bottomed and a reversal is happening. Is that so? Firstly, if that news had not come around CATL, and LTR on 56.5, PLS 231, etc - what would have happened? Where would we have finished the week. Secondly, the rally was supported by US Li stocks, which also gained over 10% for the week, but is not supported by Ganfeng. It did join at first, rose 12% from its low, but by Friday has given back 10%. It is within 2% of its lows. The bounce effect has now evaporated for it. Will other Li stocks follow that? I still believe, unless Ganfeng joins the party, there may not be a party, I could be wrong though. Last several weeks, its making new 52 week lows, nearly every week. Spot price too is after all that euphoria, still down 2% for the week. So there is a chance we may have bottomed, chance we may be reversing, but there is no confirmation yet. There are some good signs though. Many ASX and US Li stocks are around 20% up from their lows, including ALB which I track as barometer. Also, it has shown, that one good news, a small change in sentiment to get stocks up, 30/40% within couple of days. So that is very positive for future. But the divergence with Ganfeng cannot stay. Either Ganfeng has to rise or other stocks to drop. Lets see what happens next week, a rate cut week. SP 500 doing well, so there will be support from genera markets. So if we have to reverse, timing is good. But overall I still feel extreme caution is required for any new entry to the sector, but its individual risk/reward, things can and may turn one day.