Lithium stocks have been in favour due to the demand for the metal in batteries and the wider application this has for electric cars. Aussie Lithium stocks featured heavily in a trade meeting I participated in yesterday and I thought I’d summarise some of the ones we discussed and that caught my interest but I’ve thrown in a few others as well. My analysis is of a technical nature so do your own due diligence if considering these tickers.
ORE: Orocobre: price is holding above $5 support but management has disappointed investors and the stock has been heavily shorted. Watch for any revival though and, if so and price can break above the recent High, then I would look at the various major fib extension levels as potential targets:
GXY: Galaxy Resources: as above, watch Fib extension levels if price breaks above the recent High and volume picks back up:
PLS: Pilbara Minerals: watch for any triangle breakout, volume uptick and close back above the recent High. If so, look for targets using the Fib extensions.
AJM: Altura Mining: Same here, watch for any trend line breakout and move above the recent High that is underpinned by an uptick with Volume:
AGY: Argosy Minerals: the 0.50 cent level seems key here so watch for any triangle breakout and close back above this key level, along with any uptick in volume:
KDR: Kidman Resources: Watch for any triangle breakout and hold above the $2 level that evolves along with an uptick in volume:
TAW: Tawana Resources: still lots of recovery potential so watch for any trend line breakout that evolves with an uptick in volume: