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LIT

Pure Minerals PM1 (ASX)Another for all battery lovers. this is a very small cap stock <10m, some positive results have come out. There is a clear bottoming pattern here and we are in an upward channel, positive divergence has been building on this stock for some time. We have made a first try at breaking out and pulling back now into the channel. there is not much resistance in the chart to the .09 level that is 400% gain. some more accumulation will occur here before breaking out to the next level. you can also refer to my LIT chart which I am using to track the sector.
PLong
by djmitchb
1
Lithium LITHello, Lithium global etf continues to be in a larger bull trend since late 2015 bottom at 14$ we broke out of a long downtrend in october 2019 and continue to stay in the bigger channel upwards Right now we are overbought and will re-trace before another leg up. the 50Daily MA is firmly above the 100Daily and the 200Daily average. based on the cycles of around 450bars each we are only 25% into this upcycle, the last 3 cycles were around 1.5years I'm expecting a retrace to the daily averages where now we have a strong zone of support between $25-$26. after we should see moves towards the target zones 50fib 61.8
AMEX:LITLong
by djmitchb
7
Lithium ETF clean EW and supportThis ETF has completed a nice 5W down, very precise 5=1, The W3 is a bit short, although there's reasonable subwave in there. Add to that the support from 2013-2015 and more recently in late 2016, which is where we are now, and if W2 is .618 and W4 is 1.0 we have a fairly neat 1.618 to finally reverse at here. Climbing back to 29 allows me to place a wide stop of 21 under 2013 and 2015 lows and still get a 2.5:1 trade, shown by the green and red lines. The volume bars look quite encouraging close up, as well, it tails off into the decline. The way to trade something like this is to think either the Oct 16 support of 23.35 will hold or it won't. If it doesn't, then we are straight down to 21.75, ie it's unlikely to bottom in between these prices. So you can either enter here and add at 21.75, not higher (but with the same 21 stop), or even wait for 21.75. Conversely if this is the bottom, we'll know when it breaks 26, allowing you to add (and move the stop up to 23). One sore point is that the ETF keeping missing on earnings, presumably from its major component NYSE:ALB. Hopefully, this will get better, but the trade should be managed carefully through the next (Q3) earnings date, which for ALB is Nov 6th.
AMEX:LITLong
by adatherton
1
GBPJPY setting up nicely for BUYSGBPJPY after last the last two weeks, we have one of the trade hit take profit starting the uptrend. The long term analysis for GBP is up up up ever since we saw GBP hitting key areas and points of support last month. After the push towards the high, price broke key area and pullbacked a little towards that very same key area. This is structure trading at its finest. Now we can see the pair continuing the push up during this new york session or the next London/New York session. GBPJPY BUY Start: 133.903 stop loss: 133.255 take profit: 137.397
Long
by mrleh
USDCAD starting to make its move, creating new downtrend. USDCAD playing out beautifully, price broke out of the wedge/triangle and retested the trendline. If we can get a daily close below the trendline, we'll enter the SELL position. USDCAD SELL Start: 1.33315 stop loss: 1.33482 take profit: 1.31156 USDCAD still just below the trendline, currently in some profits. Though, there's a good chance BUYS might come in play if the candlestick pushes above the trendline. The thing to monitor is the daily candlestick...red/bearish candlestick.
Short
by mrleh