Lithium ETF - Needs a small pause to recharge 🔋🔋🔋Lithium has been one of our most successful 'explosive' trades and it has proven as right.
Our first post on June 17, 2020 was the beginning of a series of trades on our ETFs account and the price has over-doubled ever since.
Later on we posted this about how 'Lithium is power' and indeed we had a further rise of over 40% until then.
At this stage we have reduced our positions dramatically as we expect a correction as shown on our chart.
ps. we do a LOT of research on Lithium and others. We highly recommend this YouTube channel📺 for Lithium research, news and interesting facts, as well as plenty of Tesla research and analysis.
(and also this Lithium from the legend, Kurt Cobain👼🎸)
LIT trade ideas
Stable growth for Global X Lithium (LIT)Fundamental Analysis.
1. Industry: Lithium ++
2. Price: Stable growth
3. Upward potential: 20-100%
4. Risk-Reward Ratio: 1:8
5. 5Y EPS Growth:
Technical Analysis.
1. Volume is growing
2. Support of the MA30
5. Short-term target: 80
6. Long term target: 100-150
The beginning of a pullback? I've been watching this ETF for a while, always trying to buy at the exact point but couldn't just because I was afraid that it would go down just before I buy. Since November is been acting with divergence with its RSI so I waited, and now I think the pullback just begun so I'll keep waiting but more active. I like to buy when the price tests its MAs, especially the 20 day MA. This time I think it could test the 50 day MA but anything can happen so the best thing is always wait and be patient, but I'll put a signal on $48 to wait actively.
Lithium looks very strong So, share of "lithium" in top technologies is rising
Argments:
-Strong eco and anitcarbon trends (look energy XLE)
-EV part rising, EV gorvernment programs
-battaries is main part of EV and lithium is mainstream of battaries. Even with hydrogen technologies, lithium is bottleneck in EV tech
LIT BUY SIGNAL / ABOUT TO EXPLODEThis is my trading idea on Lithium and battery / I have backed this up with fundamentals (supply and demand) and believe that Lithium prices will rise as demand for Lithium rises (think about Tesla Gigafactories alone). I believe greatly in this ETF and have studied it precisely. One of my favourite trades right now.
LithiumCurrently car makers are scrambling to create trendy new EV vehicles. From what I gather several big name auto makers have had to stop productions on EV vehicles due to the high demand for Lithium. Until Hydrogen CELL Fuel companies are able to provide the service outside to more charging stations outside of California, I don't foresee this tech competing with lithium powered vehicles. Due to this I would be long Lithium for the foreseeable future.
AMEX:LIT