LITM a lithium penny stock gets momentum LONG
LITM is a lithium mining company with operations is Western USA and Canada now getting a
lift as lithium prices are rising. It popped 16% today and hit a screener on volume yesterday.
This is a junior miner compared with LAC and SGML. As such it is more reactive to price. All
indicators confirm the move including the extent of the trend, relative volume spiking and the
RS lines. This is a low float low volume stock.
Accumulation of a low float could precipitate more price action upward quite easily.
As a volatile penny stock LITM is risky. Right now, I see a long trade in a
small position ( < 0.001 of account balance) for the potential gain despite the obvious risk
SL at 10% Targets at 10% 20% (red line pivots to the left-1.2o December to Feb) then 70% (
pivot low March 23) and finally 250% for the runners ( January and July 23 high pivots). Time
will tell. I expect great profit in this swing trade with stratified partial profits and less time
effort in the trend using alerts and notifications. A trailing loss will be employed at 10%
once the trade is over 20% profit.
lift as lithium prices are rising. It popped 16% today and hit a screener on volume yesterday.
This is a junior miner compared with LAC and SGML. As such it is more reactive to price. All
indicators confirm the move including the extent of the trend, relative volume spiking and the
RS lines. This is a low float low volume stock.
Accumulation of a low float could precipitate more price action upward quite easily.
As a volatile penny stock LITM is risky. Right now, I see a long trade in a
small position ( < 0.001 of account balance) for the potential gain despite the obvious risk
SL at 10% Targets at 10% 20% (red line pivots to the left-1.2o December to Feb) then 70% (
pivot low March 23) and finally 250% for the runners ( January and July 23 high pivots). Time
will tell. I expect great profit in this swing trade with stratified partial profits and less time
effort in the trend using alerts and notifications. A trailing loss will be employed at 10%
once the trade is over 20% profit.
Trade active:
Comment:
in profit and stop loss changed to a trailing loss instead.