The C wave from March 2023 demonstrates bearish movement from falling lithium spot prices and a bearish macro environment. The C wave movement has turned this from a running flat to an expanding flat . Interesting to watch market psychology is at play here as participants sold PLS down despite a 1.2 billion in profit and a maiden 11c dividend paid out. Prices...
Pilbara ASX:PLS has corrected nearly 85% from all time highs since Dec/Jan18. Now it is sitting at the Fib 0.854 @ $0.485. How much more will it continue to be shorted? PLS is one of the most heavily shorted stock on the ASX by the way.
The previous bull flag took 69 weeks to complete. Although there might be no correlation but price-action is printing a...
Too early to tell but i am jumping the gun here. We need a close above 0.73 and a confirmation as well to be (more) sure. I do really like the forming of the bull flag in the weekly. In addition, there's a mini ascending triangle forming in the bull flag. Let's go!!!
Target : 0.89
Close below 0.65 invalidates this outlook.
ASX:PLS We are pounding on the support line $0.865 the third time.
I am not confident that this support will hold, look for support around $0.81.
The TK cross last week above the clouds was a sign of an incoming bearish signal albeit a weak one. Yet the prices continue to fall and refused to close above the clouds for 2 consecutive days already. I believe that...
It seems like bulls have refused to push above and beyond 0.95. Bears are winning for now. The coming week, I expect a pullback to the 55 EMA highlighted in grey box.
If hell breaks lose, we will go down to the 100 day EMA also highlighted in grey box.
My weekly indicators are bearish and unless we break above 0.95, my bearish outlook remains. Chart will be...
The volume on Pilbara is declining. That can mean 2 things. Investors are holding it and waiting for a good sell entry, or when volume comes in, weak hands will be shaken off.
I am still hopeful for PLS to test the upper channel of the ascending triangle and hoping for a miracle to break upwards. But left side of the chart shows that an ascending triangle can...
Prices of PLS is now residing in the cloud. Last week 1D close has formed an ascending triangle.
If prices do not fall under the cloud, we should see PLS testing the top of the ascending triangle at $0.95 and hopefully, a breakout to $1.00 this week.
Rounded bottom formed on CAI, with no clear overhead resistance the first target on the break is 7.6c representing a 58% move from current levels.
Recent JV with TSXV:NOV and a very nice set of tenements.
Segue has recently been highlighted as having a strong chance of hosting conglomerate gold in the Pilbara which is a current gold prospecting hot spot. A low volume handle has begun to form after a cup with a 3.0c depth. A retrace to 6.9c would be half of the cup depth and also the 50 fib wise. A break from 7.0 would give a target of 10c.
Ongoing exploration...
Pioneer resources which apparently has tenements bordering Novo Resources appears to have shown capitulation on the chart, first resistance point as a potential target is 2.0c with the second at 2.7c.
