Cobalt mining stock set for entry off weak volume
TSX: LUN
LUN
NYSE:LUNMF
LUNMF
Lundin Mining is a mid-cap mining company that will benefit from rising cobalt prices and demand.
Waiting for bounce off likely 4.55 for entry, or 4.35-4.40 range, and not likely lower $4.06-4.10
Fib retracement. RSI going above 50 with 1w chart shows good entry with lots of scribble correlation.
Sorry for the business, I mean busyness here.
Cobalt value is strong and demand for electric batteries also very strong. Recovery as major player
in this area is prominent.
For own use. Put to use idea, comment or like, but review on Friday Sept. 14th.
longbuylongsell chart with blue-black courtesy of @MarxBabu.
LUN
NYSE:LUNMF
LUNMF
Lundin Mining is a mid-cap mining company that will benefit from rising cobalt prices and demand.
Waiting for bounce off likely 4.55 for entry, or 4.35-4.40 range, and not likely lower $4.06-4.10
Fib retracement. RSI going above 50 with 1w chart shows good entry with lots of scribble correlation.
Sorry for the business, I mean busyness here.
Cobalt value is strong and demand for electric batteries also very strong. Recovery as major player
in this area is prominent.
For own use. Put to use idea, comment or like, but review on Friday Sept. 14th.
longbuylongsell chart with blue-black courtesy of @MarxBabu.
Comment:
Note: Chart was weekly period, so review every F as a weekly chart, or set alerts for $4.55-4.60 (+1% from FibRetr), $4.36-4.40 (+1% from FibRetr), and $4.05-4.10 . Good intermediate hold or short play with up to 5/6/7.