TAW - Holding Support 5/5Support 40c, Resistance 47c, 50-52c
Was able to hold support at @ .40c mark. Small downtrend as of the last few weeks, looks like a reversal is coming, perhaps a period of accumulation around the 40c (support) - 47c (resistance) mark.
Gaped up to 43c due to lithium shipment ann.
Ann on time, everything proceeding as expected, thus no huge increases as of yet.
Market would be looking for FA that signifies higher grades of lithium thus payed better money for shipment. Expected to receive $880/t, anything higher would be a great sign. Also any higher production figures for the coming months will also be a catalyst.
Conclusion:
Optimistic: Accumulation for a period roughly 3 weeks? Within that time FA should provide lithium delivery, grade & payments, Mays shipment in tonnes. Hopefully this is a catalyst to reak the 47c resistance and build a new support line.
Pessimistic: Accumulation and support keeps getting tested. If broken possibly move down to 36.5c (small gap down * previous small support), then down to 33c.
Strategy: Looking for a higher support level. Long term hold
Lithium
AVZ: Ascending Triangle BOUnusual activity of late, with AVZ dropping below the main trend - an unexpected occurrence. Currently heading to test resistance at 21c if it can make 19c a strong support. Currently BO out of a bullish ascending triangle, with Wave Trend showing continual upward movement, EMA Wave also showing upward momentum. However, the Weis Wave is showing a lack of demand so volume needs to be further observed.
LITHIUM ETF BUYThe Global X Lithium and Battery ETF seems poised to proceed on the bull side. Commodities in general also seem poised for some bullish sentiment, so I hope that Lithium and battery related commodities rise which should have a positive effect on the ETF.
LIT ETF: Further Trending Down Bullish Descending WedgeExpect a further slide down the large bullish wedge into more probabilistic BO zones (as indicated by green projection area within the wedge), then trend reversal that moves within the trident. The current movement is a completion of a bearish ascending wedge, which correlates with a continuation of the downward trend. The VFL shares the current bearish sentiment as does the Wies, with an overall decrease in buying and selling volume - such things also indicate a possibility of a large movement.
A bit of a messy H&S on AVZAVZ is one stock that has not had a settled time in recent weeks at all, with the ASX hitting them with a number of queries, and the charts are reflecting this. There is a bit of a messy Head and shoulders pattern formed. I had expected it to bounce by now, the continued fall is rather concerning. Another concern is there could be a long way to fall if it dips below 20c, with not much strong support to my eyes.
Already looking quite oversold, it has good odds to get a small bounce soon, but needs a lot more work done to break the downtrend it's in.
4CE dropping below long term bull trendFor the first time in quite some time we have seen it drop below that longer term bullish trend. Albeit on low volume, it has started to test below 9c again after failing to breakout. I can see it continuing to test below 9c next week, especially with continued market uncertainty. Over the course of the next few months I am still quite bulish on it from here. Continued increasing interest in the area, with the initial mining just about to start. Positive mining results could provide a large re-rate, but it does need those results to be good with high expectation all around.
That said the chart is not too flash at this very moment. What I am looking for in an increase of buying next week, but the continued market uncertainty is not going to make that easy. Weekly outlook is uncertain, but a quick bounce into the 9's would be very positive. Longer term looks stronger.
Disclousre: I hold shares in ASX:4CE .
BMZ interesting 2 days, massive volume and showing strength.ASX:BMZ has had an interesting 2 days of trading, massive volume never seen before on the stock. Was looking good until the late selloff. Proximity to AVZ , 4CE , and $TTX. Plenty of interest in whether they can find much Lithium down there. Keeping my eye on it.
Has held it's uptred pretty well despite it's rapid rise, just starting to show signs of resistance (especially on the close), getting knocked back a lot throughout the day, but still powering forward. This could move a lot in either direction, see it as a good chance to judge market sentiment on new Litium ventures. ON this evidence you would say there is stil plenty of interest.
Some longer tmer potential resistance lying in wait, yet to see if it has the legs to challenege it yet.
Disclosure: I hold 4CE, have not held any of the other stocks motioned in this post.
AGY's short term trend line is getting ready for the next leg upAt the end of March, AGY will *hopefully* be releasing news that they can produce 99.5% < battery-grade lithium. The market is preparing themselves for the news which is evident by the new short-term trend line forming. The closer to the end of March we get, we'll see past resistance become support for the next leg up.
Orocobre getting to a trend line Lithium reached an all time high of 156.80 in January of 2018 and a record low of 62.79 in February of 2016.
The Price as recovered at one point it was down from its highs by almost 15%
Price Day Weekly Monthly Yearly Date
Lithium 139.07 1.17 0.85% 0.05% -5.07% 42.01% Feb/22
Cadence penny stock longscoming to the end of a long term down trend and now positioning for longs.
0,25 entry...
Pure Energy Minerals LongsEnd of buy zone.
long position at 0,25 currently in loss. long term looking for 0,80 as a first soft target
BGS Triple Top ExhaustionBGS has gone on a big rise lately since its board of directors change. This triple top looks like it will be a return to the mean until we get some more concrete news. This could be a good opportunity to sell... or perhaps top up ;)
SQM: Looking great hereI'm holding longs and looking to add tomorrow at the open. There's a chance for a new weekly rally that would take us to considerable heights. The EV growth is a great driver for this stock.
As long as we don't see any new tech like solid state batteries take over, this should be a long lasting uptrend. The Key Hidden Levels indicators show very constructive signals here, giving me more arguments to pile on longs.
Best of luck,
Ivan Labrie.
MGXMF MXG Minerals Trade AnalysisA current trade of mine that I'm publishing to see how it plays out. Very bullish stock at the moment in what looks to be in wave 3 of a grand cycle with this being wave 1 completing of this first impulse. I'm watching price very closely at this moment to see if a correction will play out in my favour. It has also formed a cup and handle on the weekly where it is ready to break trough the cup and form the handle, another bullish sign in my view.
Disclosure - I'm totally a novice trader learning Elliot wave theory and technical analysis. These are just my ideas/current trades, this is in no way shape or form financial advice. Thanks for viewing.
OROCFOrocobre has been going great since entry @2,50. Rebuy levels havent been reached yet and thus i will just let in run on. looking to add on @3,21 and 3.
AQMS- 1 of my 2018 Swing Trade Candidates for 500%+ Potential$AQMS - has been beaten down from roughly the 22.50 high its at 2.08 currently. I feel it can have the same potential as last years swing candidates $IPI which was in the low 1s and $Galt at the .89 cent level. So i have added it to my 2018 swings with 500% potential list.
The share structure is roughly a 28 mil OS with around 24 mil float with such a small structure and between 12-15% short interest could see a swing back up to over 10++ in 2018.
The company is well funded and holds patent to "AquaRefining, which recycles lead batteries without producing additional waste that ends up in landfills. Recycled batteries are broken apart by machines that separate the plastic from the lead. The plastic is recycled, while an electrochemical process rids the lead of impurities."
It has a deal with Johnson Controls $JCI that i think can really start to take hold in 2018 in terms of revenue growth...
Took my first feeler today
Lepedico Bullish Continuation LPD chart has recently broken a solid consolidation pattern, surging 20% above the 6.3 support level to test remaining resistance at the 7.5c mark. After trading up to 7.9c the move has encountered resistance and fallen back to 7.0c on relatively low volume which has continued to drop into the retrace until flattening out at around the 50% retrace level. This has formed a minor flag with a target at 8.4c. This is a typical breakout consolidation, sellers appear to be dropping off signalling that the stock is ready to move north again.
Should this continuation play out then the next anticipated resistance will be encountered at 8.4c or up 19% with the larger Flag break target giving a 11.9c target representing an 89% move from the breakout point at 6.3c
All in all the bullish trend remains in control
Global Lithium Hi guys. In my humble opinion LIT has a good chance of bouncing off the support and continuing the slow but steady uptrend along with many other commodities. Thank you for taking a look.
Tesla's Mining CompanyGoing to analyze this chart to get a good idea of where its going and when it will move in value, but this one's a goodie!
Happy Trading!
Alexander DeGroat
