Liontown is Printing a Possible Cup & Handle Pattern which is Bullish.
Should the Pattern playout, there is a potential +40% Upside.
As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions.
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Lithium prices post Easter break determine the next price move in the stock, up or down. If it goes down it will double bottom and then resume journey upwards. Next 2 weeks will determine Long or Short.
Waiting for better price structure to become clearer in and around
supply zone of interest will patiently wait unbias as if set up works or fails, analysis's done, on watchlist, time for popcorn.
DYOR.
Perma
A very good lithium projects that is heading for correction.
Buying opportunity appears after it will complete leg c of wave ABC.
*not a trading tips. wave count might be wrong.
The function of bear markets is to remove all speculative excess from markets and individual stocks.
My last publication was on BNPL stock ZIP on the Australian ASX which suggested that it would go bust and is now trading at 45 cents from $14.50.
The next speculative sector is Lithium Mining which has been supported by a great deal of irrational exuberance...
keep your eyes on LIONTOWN ( LTR ASX) for next 12 weeks.
my analysis on this stock is rather 30th nov or dec to achieve $2.5
I could see 300-600% more room to carry on till 2024.
time will correct me, if I am wrong today
Australian Lithium miners like Liontown Resources are running really well at the moment with all the news around battery shortages.
Might be a bit too late to catch this one, but well worth looking around for other Lithium suppliers that might not have run as hard yet.
"Lithium hydroxide prices hit all-time highs of $20,000 per metric ton on Sept. 8, according...
LTR looks to be headed further down.. possibly to meet the 200d MA. Expecting support around the next sig level of 35c. Lack of news and increased competition in this space may be driving down the stock.
Liontown Resources has been pushing on support levels for the last week or so, and today attempted to break 42.5c which is a key support area. Closing below the 50d ma today is bearish, and should this continue to test support it is likely to start basing around 40-35c.
Watch for break of upper trendline
Might find some resistance at 15.5
13.5 seems to be a key level atm
Could easily move down though
Price trading above 21EMA
