Recently spotlight was shon upon LKE with the speculation that NVX was going to supply Tesla with the technology required to create the "Million Mile Battery" LKE provides NVX with Clean Battery Grade Lithium to create the NMC622 LIB (lithium Ion Battery) test cells.
You can clearly see in the Chart that hype was real and then when it was proven Pure Speculation the market reaction. I wanted to let the dust settle before charting LKE next potential move. Below are 2 possibilities.
SHORT- & Gap Fill
- Pattern almost complete
- almost overbought
- 20MA will be lost if we cross Uptrend Trendline
- Struggling to make a Higher High
- Target 1 marrying Previous Support
- Gap Open at 0.041-0.043
- Target 2 at previous lows
LONG - New ATH
- Break and Retest off Strong Support
- has not turned
- Current Market Structure
- still trending above the 50 and not Overbought
- MAs currently still and price still currently above the 20MA
Interested to see what's next for the Clean Tech Lithium Producer
Personal Sentiment: Hold, Disclosure: Held
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