As one of the only pure play on the lithium space, Livent is attractive given the trend toward electric vehicles. The demand for lithium is increasing every day, and LTHM stands to benefit from this. So, I've been waiting for a good entry on this stock.
Livent is completing an 8-month cup and handle pattern. Based on the depth of the cup, the sell target is roughly $35.50, but shares could go even higher. MarketSmith has LTHM a 95/100 relative strength rating, meaning its price action is stronger than 95% of stocks in its database.
Fundamentals also look good. Sales were up 34% in Q1 and 57% in Q2. This acceleration in sales growth is what institutional buyers are looking for. The company has also begun turning a profit, and earnings are expected to grow by 157% in 2022.
Livent is completing an 8-month cup and handle pattern. Based on the depth of the cup, the sell target is roughly $35.50, but shares could go even higher. MarketSmith has LTHM a 95/100 relative strength rating, meaning its price action is stronger than 95% of stocks in its database.
Fundamentals also look good. Sales were up 34% in Q1 and 57% in Q2. This acceleration in sales growth is what institutional buyers are looking for. The company has also begun turning a profit, and earnings are expected to grow by 157% in 2022.