Still in the Red for this ETF, a little disappointing since Electric vehicles will need lots of lithium. I will want to buy more at later stage when I see an uptick of sales of EV globally.The adoption rate is not as high as many expected with infrastructure, conversion, batteries, etc issues still hanging.
I am looking at end 2024 to early Q1 2025 to review this...
Bulls appear to be holding on and pushing through the TREND LINE OF PAIN. Price has been holding up steady to the famous 50 yard line. Some of you might be using shorter EMA's and that's okay. Long term outlook suggests we may come across the 200 EMA line sooner than later.
This trend line has been intact for almost an entire year.
An upward breakout is...
Another drop back to 0.236 support. RSI oversold at this stage on Weekly.
Double bottom expected then side ways movement to long term resistance trend line, consolidate around breakout zone then breakout of a long term bear market for Lithium.
I would start building lithium positions when it hits the 2nd bottom at 0.236.
#Albemarle Corp.
#Sociedad Quimica Y Minera de #Chile
#Lithium Americas Corp
#Global X #Lithium & #Battery Tech ETF
In the midst of takeoff... the electric sector is gracefully spreading its wings. 🚀 #ElectricRevolution #SustainableFuture
On the above 2-week chart of the Global X Lithium & Battery Tech ETF price action has corrected 60%. A number of reasons now exist to be long.
1) Support and resistance. In 2011 and 2017 price action found strong resistance exactly at $40 before breaking out in 2020 for a massive 140% gain. Price action has now returned to $40.
2) RSI resistance breakout.
3)...
The Hypothesis
Since Nov 2021 after the COVID19 spike, Lithium prices have taken a beating and have been trending downwards. My hypothesis is that the previous spike was hype mainly driven by COVID19 speculative behaviour and if we just discount that overvaluation we will be at a fair price that has not included the continual demand, the consumer shift in...
Been beaten down for a couple of years, but we're in the 0.238 zone on the fib retracement chart where we would need to see some reversal to continue the upward trend.
Fundamentally, there is still a strong demand for lithium so upward trend is in play.
I believe this correction is almost over and we will start upward trajectory.
This is a Weekly timeframe so...
Read this recent article here
I often wonder why there are so much emphasis of going to school globally, mandatory in some countries up to a certain level yet the contents of what are being taught are not revised or change to match the current economic condition. Could this be some form of conspiracy theory where the parties involved do not want its people to...
LIT stock's price has bottomed out and is likely to remain bullish for the balance of the year. Target is around 81, however it can be stretched up to 115.
As long as price holds above 64, a bullish trend is expected.
Instead of choosing individual battery company to invest, it can be a daunting task and some investors may like a broader category like LIT ETF which includes many lithium manufacturers.
For easy reference , here's the list :
All 40 Holdings
Holding
Weighting
Albemarle Corp (ALB) 18.83%
Sociedad Quimica y Minera de Chile SA (SQM) 13.12%
Tesla Inc...
Price of product is increasing, a number of stocks listed on the asx have been smashed over the past 6 months.
Looks to be a good time to enter here on ASX:CXO and $LKE.
TKM had a huge move on the 3 Nov on the release of the below High grade Assays.
Looking for it to trade back into that range marked out on the chart which it currently is. The range low here is key.
I'm looking for a reaction off the range low, OR a break below range and a Deviation and reclaim of the range low would be bullish and my trigger point to enter...
$tsla, (and the battery cars sector), about to go terminal.
Have a close eye on lithium stocks here. $lit showing a bit more life, but is obviously correlated to Tesla, bigtime. This week, was rejected by weekly 30EMA, indicating a new leg of downside is probable.
