NEO Lithium has been battling the last couple months. Great opp to buy the dip in mid may as I shared on Twitter/Substack. Today they released information updating the amount of High/Medium grade Li available at their Brine Mine location in the Lithium Triangle. NLC can now claim to hold one of the world's largest Li resources. They also have some of the highest test/quality Li.
Arrow indicates how the mean price acted as resistance just last week. So I see that as an area of Significance over the next couple days/week for buyers to control price at this range. Volume will be key here as well. If NLC fails to crack, look to see if it can hold the upwards new trendline and/or 9 day ma.
VWAP anchored from the high also shows that buyers are in control as we are trading above it. Look for continued curving of the VWAP to the upside. Catalysts yet to come for NLC later this Summer are the publication of the DFS and a potential offtake agreement with CATL, or financing from another partner downstream.
I have a long position in NLC.
Please do your own DD and follow your trading rules.
Cheers,
Luke
Arrow indicates how the mean price acted as resistance just last week. So I see that as an area of Significance over the next couple days/week for buyers to control price at this range. Volume will be key here as well. If NLC fails to crack, look to see if it can hold the upwards new trendline and/or 9 day ma.
VWAP anchored from the high also shows that buyers are in control as we are trading above it. Look for continued curving of the VWAP to the upside. Catalysts yet to come for NLC later this Summer are the publication of the DFS and a potential offtake agreement with CATL, or financing from another partner downstream.
I have a long position in NLC.
Please do your own DD and follow your trading rules.
Cheers,
Luke