LAC Nice Touch To SupportLAC bounced off support and is ready for a very strong green week. Bullish on them for the long-term as well; I consider this to be an extremely good buying opportunity. Good Luck!
LAC trade ideas
Gartley pattern $LAC-- Top watch for me See chart for $LAC long set up. Focus on pin bar at trigger and daily inside bar over 15.35, might go big here
LAC$LAC- EV battery (lithium)- will likely go down towards the 200 day EMA before it heads up to test the channel’s resistance.
Is TSLA actually a reflation / commodity-style trade? The correlation between TSLA prices and lithium prices is remarkable (we are using the stock prices of two lithium miners with low diversification as a proxy- so more diversified Albermarle is not included - which is obviously an imperfect proxy). Movements in the price of the largest US-focused lithium miner LTHM explain 79% of the variation in TSLA's price since 2018. imgur.com (Linear Regression Analysis)
A cross correlation analysis suggests no consistent lag between and TSLA. This means that current day (and current week) LTHM movement correlates best with TSLA. So it's not really TSLA driving LTHM, or vice versa.
1. Weekly returns were aggregated and compared, and the Pearson Correlation actually suggests that prior week LTHM return has some predictive value for TSLA current week returns. imgur.com The volatility of returns as a % make linear regression a sub-optimal tool to use here. We used binary logistic regression which somewhat confirmed these conclusions (71% accuracy).
2. We looked to see if variations in the 10yr yield explained variations in TSLA's stock price (making TSLA more like a tech company) and perhaps then affected lithium producers downstream. We found that, prior to 2020, the Pearson correlation between TSLA and TNX was positive (0.36); in early 2020, it was negative (-0.42 yields fell and TSLA rose out of the March lows) and, since August, strongly positive (0.86). I included a more traditional tech company (AMZN) for comparison which clearly has a negative relationship with 10-year yields throughout nearly all periods.
3. The visual chart shows a number of continuation patterns ("pauses") since the March 2020 lows. In most instances, TSLA and LTHM corrections & consolidations occur simultaneously, and in the vast majority of instances, LTHM topped slightly prior to TSLA.
4. All 3 assets show hammer reversal-type patterns within falling wedges that are quite similar to many previous iterations that resolved bullishly.
Until further notice, TSLA, LTHM, and another US-based lithium producer (LAC) appear to be ending yet another falling wedge pattern to reverse to bullish upside. And, thus, I am cautiously bullish on all 3. However, for me, LTHM's breakout appears slightly stronger than that of the other two, so I consider it the preferred trade. LAC could be the highest upside trade of the 3 given its outperformance of the other two since the March lows.
$LAC Top watch for me Please see chart, over noted range break w volume high i will be long too (noted on chart)
Tesla's Overuse of Lithium Batteries Could Make This SoarTesla has been using lithium batteries like crazy, and that could mean that they will start needing to purchase more lithium. They are currently in a deal with a Chinese company for this, but If they start needing more (which they will), they will have to start buying from smaller companies like Lithium Americas. They are quite a safe investment, a stable company with decent profits and income, so its a good idea to buy for long term. Good Luck!
Look for push to retest highsLast time we saw this sort of price action, we pushed to the high 20's.
If it weren't for the madness that occurred yesterday this would be well on its way. So lets just say thanks for the dip buying opportunity and move on.
Entry: 20.80-21.50
SL: 20.25 (Lows of yesterday)
TP1: 24
TP2: 28
TP3 (breakout): 30
Not financial advice
LAC 08-02-2021 LongAsset and Time frame -LAC,1H,4H
Entry Price -20.80
Exit(Stop Loss) -19.58
Exit(Take Profit) -25.10, and another at 27.65
Technical Analysis -Price was completing an impulsive wave on the daily, and now finished making a small correction to resume the uptrend, price was moving sideways until it reached a bearish trend line, which the price broke with a decent amount of momentum on the hourly chart, the price has failed to reach oversold on the 1H chart, and on the 4H price has closed above the 100 MA.
I would like to hear your opinions and what can I do to improve, many thanks
LAC - reversal after decent pull backLac - lithium stock (EV strong demand)
Pulled back, tested the level,
Now ready to reverse
Lithium Americas Corp LAC LONGCar battery makers will see some serious action in the coming years. I am seeing a long here.
Analysis request: LAC bullish above 20.89LAC has broken the supply line coming off the highs of 28.72
We found support at 17.71 and again above 19.76
If we can break above 20.89, first target would be 24.76, and ultimately a retest of the resistance at 28.72
If we break support to the downside, there isnt much underneat us til we can to the bottom of the green range.
Bullish divergence on the RSI but id like to see it above 60, with volume picking up as well. as we approach 20.89
trendline support coming into play, long n strong! nice trendline and pivort support here, i got very small size size here on longterm calls, long 22, stop loss 20.5 and price target 26! this is pretty good risk reward here. goodluck! leave a like, comment, and follow :D
Large volume breakoutLarge volume confirmed breakout, quick test of break outline with consolidation before pushing further. PT 20+
$LAC - In top of a positive channel (on Break test)1st support below, 17.6
2nd Support 16.6
Just a viewpoint.
$LAC Lithium Americas Corp on Breakout Watchlist
LAC is on a hot streak, but that may have to pause
until the major trendline (red) is broken.
They $17.50 level is the levels to watch and
we have placed our alert above for a partial entry.
Like most trendline breaks a back-test is always a
bullish sign and a opportunity to add to position.
Tomorrow may bring that break and if so $19.94 - $20.00
is our first target.
