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Silvestrov

SQM - riding the wave of higher prices in lithium

Long
Sociedad Quimica y Minera S.A. (NYSE:SQM)  
Silvestrov  
NYSE:SQM   Sociedad Quimica y Minera S.A.
Double Top or Bottom Support and Resistance SQM lithium lithiumsector Double Bottom breakout chile Commodities
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doubletoporbottom supportandresistance sqm lithium lithiumsector doublebottom breakout chile commodities
SQM provides exposure to lithium prices, which are on a strong rise in recent months. SQM was lagging a bit, but looks like it is finally ready to go higher.

Double bottom formation was confirmed with strong breakout on high volume on Monday and suggests that in short term price should rise at least to $35-38 region.

And if outlook for sector remains positive, even higher prices should be expected, historically trends in SQM were strong and lasted for prolonged period of time.

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