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PILBARA MINERALS LIMITEDPILBARA MINERALS LIMITEDPILBARA MINERALS LIMITED

PILBARA MINERALS LIMITED

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PLS trade ideas

ASX: PLS Pilbara Minerals Where are we heading first?The volume on Pilbara is declining. That can mean 2 things. Investors are holding it and waiting for a good sell entry, or when volume comes in, weak hands will be shaken off. I am still hopeful for PLS to test the upper channel of the ascending triangle and hoping for a miracle to break upwards. But left side of the chart shows that an ascending triangle can fail and that's worrying because we might repeat here! 1W RSI is pointing down. My guess is as good as yours. **not financial advice**
ASX:PLS
by paper_value
Will Pilbara Minerals continue it's uptrend? $PLS Fundamental analysis: PLS.AX continues to secure landmark deals with top tier companies with the most recent: Binding Subscription Agreement executed with POSCO and its wholly-owned subsidiary, POSCO Australia Limited (POSCO, market cap: $28t) , for an immediate upfront A$79.6M equity investment at A$0.97/share in Pilbara Minerals, with the proceeds to contribute towards accelerating the Stage 2 (5Mtpa) development this year. The market reacted with a huge gap up resulting in a 12% increase on high volume. The next 5 candles showed signs of profit taking. The reaction to the POSCO deal mimics greatly to the reaction given on 02 May 2017 when PLS secured a BOA + finance with Ganfeng (SHE: 002460 , market cap: $50b) i.e. gap up on high volume, followed by profit taking. Market sentiment: Lithium sentiment has been greatly diminished by the Morgan Stanley report on prices reaching a peak, with fear of uncertainty and over supply. I am of the personal opinion that lithium demand is still greatly underestimated and market is showing gradual positive signs of recovery. Technical analysis: 3month chart is showing higher lows and (slightly) higher highs. The next candle or 2 (if a doji appears) should determine whether PLS will continue it's uptrend or continue sideways.
ASX:PLSLong
by PaulCruz
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