Lake Resources Lithium Stock has had a Wild Roller Coaster ride to the Downside.
If support is maintained from the recent lows and more Buyers come in, I expect this ticker price to slowly rise.
However remains a risky Investment / Trade.
Use your own discretion and get expert advice.
Use stop loss management to preserve your Capital.
Smash that Rocket Boost...
LKE was in a descending wedge with bullish RSI divergence and now in a triangle. Look for a breakout of trendline for entry, stoploss at last swing low and will be moving SL to BE when safe to do so.
Not an advise, but learning; On the monthly chart I could see a potential for an uptrend and just thought it could be a strong support price area so after all I hope i will get a good return :)
Please share your idea with me.
Thanks all
Lake Resources presents a promising opportunity with low risk and high potential for rewards. At present, the stock appears to be consolidating around the 60 1/2 cents range, potentially indicating a bottoming out of prices. However, we should also note that the downtrend line, as depicted by the chart's line, is currently descending into the price...
If Lake's DLE tech does not show progress, expect demand and oversupply concerns to weigh on SP over the medium term.
Disclosure: sold position progressively from $0.50 to $2
Lake has had quite a pullback after its massive run in the earlier part of the year. Its crossed back up above its 20 Day Moving Average along with the MACD and RSI making upwards signs.
Commsec is currently showing 545 buyers for 4,847,335 units and only 294 sellers for 2,645,213 units, so fingers crossed it seems demand is on our side.
Could be one to add to...
Waiting patiently and unbiased for and if confirmation seller are here at supply zone, price structure building looking for more seller price action firstly. (it's CT trade so be on point with exit don't give money away) Are buyers on holiday
Perma
Bearish ADL Divergence is when the ADL is trending downwards while price is on the rise. In this instance, ADL is signaling an increase in selling pressure (Distribution), and price took a downwards turn.
Formed a pennant pattern and observed the break to the upside. Measured move nearly fulfilled, my entry price was 1.01.
Previous ATH at 1.185 was taken out...
LKE breaking out of a 5 month consolidation period, looks like a 5 month cup and handle pattern
Target is at the 1.414 Fib level and also the "Cup and Handle" Traditional chart pattern target.
Lithium sector and commodities all running hot atm.
Volume is very notable on the breakout also. Adds conviction.
Looking for lower timeframe backtest entry
Price action has been respecting this trendline since May of 2021 and until recently broke through. If it cant get back above trend line, look for a possible retrace to the .48-.52 area.
Lake Resources is up a staggering 1200% this year and that is after a recent almost 40% pullback.
RSI, MACD starting to look bullish again, and more importantly the price is back up above its 20 day moving average.
One to watch.
Upward/ascending channels have a 68% of breaking downward.
Coupled with a possible double top
If it break downward watch to bounce of EMAs and even further at marked supports
(Dedicated to all the coked out casino executives)
Text me if you have any questions/comments for me.
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LKE
- Previous analysis was done on 21 Oct (red arrow) -> Suggested waiting for a retracement and a successful rebound
- Since then, the stock has strapped on rockets to comfortable close above the psychological resistance at $1 levels
- On 14 Oct (blue arrow), I suggested entry around 62 cents levels and...
Text me if you have any questions/comments for me.
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LKE
- Previous analysis was done on 14 Oct (red arrow) -> Recommended waiting for a successful rebound before plotting entry
- Since then, not only has the stock rebounded, it has also broken out above the 65 cents resistance level with above average volume
- Stock is proving that the mid-term average is a...
