LAC IS FORMING A BULLISH PENNANT IN THE WEEKLY CHART
Updated
After setting up the new ATH at 36.49 recently, LAC is going through a healthy pullback before the next run up. The weekly chart shows it is forming a bullish pennant with a possible retesting SMA 20 AT 30.20 and the previous ATH at 28 .71 (last January).
It is also forming a trend line support (the bold blue line). If it holds, we can expect a breakout towards $49-50
This is my idea, which could be 100% wrong. Please do your DDs before entering the trade.
Lithium stocks are the fattest pitch in the investment world today.
Lithium is underpinning the biggest energy revolution in history. Simple number crunching makes it impossible to not be long-term bullish on lithium. Globally, there are 1.4 billion cars on the road today. Currently only 10 million of them are electric cars. Electric cars have a rounding error of a rounding error in terms of market share. That is going to change, and it is going to change fast.
Governments across the world have banned the sale of combustion engine vehicles within a decade. All of the major automakers are betting their future on electric vehicles. Lithium stocks including LAC are good investment for long term.
It is a fact that hundreds of millions of electric cars will be hitting the road. All of those cars are going to be using lithium-ion batteries.
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and Thacker Pass project located in north-western Nevada. The company was formerly known as Western Lithium USA Corporation and changed its name to Lithium Americas Corp. in March 2016. Lithium Americas Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.
It is also forming a trend line support (the bold blue line). If it holds, we can expect a breakout towards $49-50
This is my idea, which could be 100% wrong. Please do your DDs before entering the trade.
Lithium stocks are the fattest pitch in the investment world today.
Lithium is underpinning the biggest energy revolution in history. Simple number crunching makes it impossible to not be long-term bullish on lithium. Globally, there are 1.4 billion cars on the road today. Currently only 10 million of them are electric cars. Electric cars have a rounding error of a rounding error in terms of market share. That is going to change, and it is going to change fast.
Governments across the world have banned the sale of combustion engine vehicles within a decade. All of the major automakers are betting their future on electric vehicles. Lithium stocks including LAC are good investment for long term.
It is a fact that hundreds of millions of electric cars will be hitting the road. All of those cars are going to be using lithium-ion batteries.
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and Thacker Pass project located in north-western Nevada. The company was formerly known as Western Lithium USA Corporation and changed its name to Lithium Americas Corp. in March 2016. Lithium Americas Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.
Note
Lithium Americas slumps after announcing offering of 2225M convertible senior notes. The wider market is bearish so the pullback on LAC has started.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.