Sociedad Química y Minera de Chile - SQM - is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium, and industrial chemicals. It is the world’s biggest lithium producer. SQM's natural resources and its main production facilities are located in the Atacama Desert in the Tarapacá region. Check out this monthly GoNoGo Trend chart of SQM going back to the mid-1990s.
What is fascinating about these shares is that on every timeframe – quarterly, monthly, weekly, and daily – the stock is in a “Go” trend. Notably, the quarterly and monthly charts are poised to lock in all-time closing highs. That is bullish.
If you watched the Super Bowl, mainly for the creative genius in the advertisements as I did (Bengals Fans), you may have noticed every major auto manufacturer is releasing new electric vehicles. The demand for lithium in each of those batteries could drive price action for lithium miners faster than Arnold could drive that new electric truck!
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