VULCAN ENERGY RESOURCES LIMITED is up +30% from it's recent Lows and possible Double Bottom. Still needs a further +10% to break above the last recent High.
The Chart should be self explanatory.
The Lithium miners are seeing a recent boost after a severe Bashing Down and are now might be seen as undervalued.
Congratulations if you got in @ the Lows.
As always,...
VUL has broken out of descending wedge and has also broken out of a channel going back to mid 2023 with bullish RSI divergence. It is now retesting strong support of the channel trend and previous swing high if it can make a higher low here we will be off to the races 🚀 Good luck 🍀
Price support 30ema and 50ema respectively. A clear indication of wave 5 impulse in terms of uptrend. Supportive volume. Price will reach the resistance forming double top pattern which develops price correction. A long buy entry generates.
*not a trading tips. wave count might be wrong.
Another nice big move from VUL signing an offtake agreement with VW which saw its price jump up a bit over 15% today.
Quite a bit of upside to regain old levels. Be interesting to watch what happens over the next couple of days.
Positive fundamental news today and in the last couple of weeks may shine a light on VUL stock once again.
Bouncing of 200EMA
Bouncing of bullish trendline support
Completed AB=CD
RSI momentum divergence evident
Company announcement today with the agreement in line with Renault Group’s ambition to offer ‘made in Europe’ cars. Following the launch of Renault ElectriCity – a new production unit for electric vehicles in Europe –Renault will purchase between 26,000 to 32,000 metric tonnes of battery grade lithium chemicals over the duration of the agreement.
Lets hope it...
I've liked Vulcan for a long time as a Zero Carbon Lithium Provider with a strong European presence. This latest news with South Koreas LG Chemical would certainly seem to reduce some of the supply chain risk in the business in terms of long term high profile relationships. LG Chem is one of the biggest battery manufacturers - especially for Electric Vehicles - in...
Last couole days have been good for vulcan, but the breakout and >5% sell off will require some more sideways here. Overall market weakness is hurting alot of stocks. Need to start picking value stocks and have conviction to hold through days like these.
Lithium sector getting another cycle now. I dont really know how to take Vulcans quarterly today, but it didnt impact price to bad so im thinking it was neutral. Chart itself is best ive seen this year from the share price. Probably a move up tomorrow followed by a sideways week next week, then a move up to next resistance level. Definitely a good time to buy as...
Fridays are known for being a selling day, but if there is strength in the lithium sector overnight, might take a position for a swing trade.
Market as a whole has been fairly weak recently, but support at 6.50 is a 10% stop loss. Will watch tomorrow and could look for an entry next week if 7.40 is held on hourly.
Its been pretty strong the last 3 days, and price action was strong on friday given the sell off in the morning, and facing resistance at these price levels. Would wait to see how it goes tomorrow before re entering.
If you would like to enter, a stop at 6.50 is the next support, so slightly riskier for short term traders.
Good follow through from yesterday, and hit resistance at the 7.60-7.70 range. Will need a pull back and recoil to move above and get to 8.50 first target. Wasnt expecting such a strong move yesterday, but rode it on open today.. wouldnt necessarily buy it tomorrow, but there could be some good buying on the pill back between 7 and 7.20.
ENTRY: 6.98
SL: 5.80
TP1: 7.85
TP2: 9.63
- ADX<25. Would like to be higher.
- RSI>65.
- RS and FFI +ve
- Daily MACD +ve.
- MAs aligned with 10MA crossing 40MA today
- Breakout with good volume on 14 Apr 2021
Vulcan closed on above average volume with a green breakout candle at a 2 month high. This beats the 6.50 critical level (cap raise), which has been haunting this stock for the last few months. This could be the start of another test over $7.00
