SQM - riding the wave of higher prices in lithium
SQM provides exposure to lithium prices, which are on a strong rise in recent months. SQM was lagging a bit, but looks like it is finally ready to go higher.Double bottom formation was confirmed with strong breakout on high volume on Monday and suggests that in short term price should rise at least to $35-38 region.
And if outlook for sector remains positive, even higher prices should be expected, historically trends in SQM were strong and lasted for prolonged period of time.
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