meszaros

LAC let's look behind the graph.

Long
NYSE:LAC   LITHIUM AMERICAS CORP
LAC let's look behind the graph. In recent weeks, the Trump administration has been working to advance large-scale mining and energy projects in federal territories whose investors want to ensure the projects progress even after President-elect Joe Biden takes office, the New York Times wrote. A mining project is also awaiting direct action by the Trump government: In the Nevada region, Canadian-based Lithium Americas (LAC) plans to build one of the largest lithium mines on Earth on 2,500 acres of federal land managed by the Office of Land Management.
Lithium is a vital component of plenty of batteries, including cell phones and electric cars, but almost none are manufactured in the United States. The Interior Ministry put the matter among the projects put on an “accelerated track” in July and is scheduled to take the final steps in early January to begin construction of the mine soon. But let's look at the technical picture. From the price movement of the LAC, it appears that the time has come to build another rising fractal . The correction size of the wave sequence seen in the current fractal corresponds exactly to the correction size of the previous fractal wave sequence (red square). Based on this assumption, the next long-term target price can be set around 40usd.

Comments

@meszaros Great find and good hint! Btw with recent sharp price movement which level you suggest reasonable SL to protect position? with regards /Wojtek
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Fingers crossed once it gets through this resistance area it runs. RSI pointing the wrong way, but bands moving apart. I'm watching it.

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meszaros AngusMcK
@AngusMcK, Thanks for the post. I still expect a rise in LAC stock price.
+1 Reply
AngusMcK meszaros
@meszaros, I've held LIT (Global ETF - https://www.globalxetfs.com/funds/lit/) for a little while so have some exposure to LAC via that. I do think Lithium is a great space to be in.
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