After a tremendous run in 2017, $LIT was beat up and gave back much of its gains to begin 2018. However it has broken the down trend and has established a strong counter trend. This is a necessary battery for much of our consumer tech and global industrial tech. As always must make new highs to confirm a reversal with multiple indicators supporting, this looks...
The Global X Lithium and Battery ETF seems poised to proceed on the bull side. Commodities in general also seem poised for some bullish sentiment, so I hope that Lithium and battery related commodities rise which should have a positive effect on the ETF.
Expect a further slide down the large bullish wedge into more probabilistic BO zones (as indicated by green projection area within the wedge), then trend reversal that moves within the trident. The current movement is a completion of a bearish ascending wedge, which correlates with a continuation of the downward trend. The VFL shares the current bearish sentiment...
Does the LIT ETF currently reflect the value of lithium stocks? Personally, I don't think it does anymore for ASX lithium stocks - particularly the near term ASX lithium producers. I certainly won't be using it as a major reference anymore for my lithium holdings.
The LIT ETF is rapidly recovering from recent oversupply fears in the lithium sector. With the news of CATL and Ganfung racing to their own IPOs to be cashed up later this year ensures that we will see MA activity accelerating in the sector.
LIT has found support today which coincidently coincides with Benchmark Minerals releasing a report on the oversupply fears. LIT is a long-term hold on the back of the energy storage and EV transsition that is happening now
LIT ETF looks set to continue raising in 2018 as the EV and energy storage transition really gets into gear. Currently over 20+ giga-factories planned to be built that will all require battery materials for supply.
Another favorite which i almost forgot i had. Entered a while back at 24$. working out just perfect so far and actually growing at a faster pace than i had anticipated. Going to add on to my position here substantually. as always a 3rd position @ 34$, a half position @ 33$, and a full position @ 31$