Looking for a close above $6 for a trend reversal for next week. Alot of supply at the moment, but cap raise is still $6.50, and still a target for next week considering the reversal in lithium stocks overnight.
@anupraj8848, yeh should be a new uptrend, but we need a few days consolidation here just to get all the loose cap raise holders out i reckon. Will be good biying at thd $6.20 mark if it gets there again..
anupraj8848
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with lower lows forming, i fear its gonna crack down the support at 5$ and fill the gap around 4. I hope constant update from vul management as past month was nothing but free-fall. The next strong catalyst is offtake agreement.
TAjames
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@anupraj8848, chart wise, this is the best its looked in a fair while.. daily tells me that as long as its above $5.50, its bullish for a trend reversal.. and above $6, it starts a new up trend.. but with thebup trend comes a consolidation around the $6.50-$7 market given how easy the cap raise was broken.
anupraj8848
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@TAjames, Did you sell or still holding mate? What is the chart telling you?
TAjames
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@anupraj8848, still bullish on vulcan, needs to consolidate and base though. I was hoping it would be around the 6.50-7.00 mark, but given the turbulence of the market in the past week, not to sure..
i need to reassess some of my trades recently and probably watch the markets, as opposed to trading for the fiest week of april.
Chart after today, (small increase in selling volume on daily) says that vulcan will go back down to $5.30- $5.40 before bouncing again.. if it bounces at that level, i want to see a consolidation. What id prefer to see though is a good buying day tomorrow for start of month and consolidation at the $6 mark for a week, before pushing higher. But time will tell.
TAjames
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@anupraj8848, ive done an updated chart on my opinion of where it could go over the next few weeks 👍