After finally retracing, the lithium sector is starting to look ready to breakout with buyers starting to step in. Watching LAC & PLL closely here as both are holding massive falling wedges, however, PLL is seemingly forming an ascending triangle as well on its weekly timeframe (See Attached Chart Below). Additionally, PLL is holding the same falling wedge on the...
Watching LAC & PLL closely here as the lithium sector heads into earnings. PLL is seemingly holding the same channel after breaking out and retracing back to the channel it's currently holding. PLL is holding the same channel on the 4-Hour timeframe with its Bollinger bands squeezing, along with a Bullish Butterfly Harmonic Pattern, MACD golden cross. Bullish and...
Hey Folks!
The fact that the current higher low, is disproportionately higher and is more over sold than the previous circled lows, and volume is at 60% of the 10-day, tells me that selling pressure is weakening and I should game plan an entry.
I am looking for bullish divergence to form within this current set of higher lows.
Meaning I want price to fall a...
Hey Folks!
This is an update to my Head and Shoulders bullish divergence idea.
You can see the double bottom Stochastic RSI and continued price increase. Granted it's not the most bullish divergence, but the H&S pattern at this moment, is more likely to play out than not imo. It's not unusual for price to stray only to come back into the fold in a H&S.
10...
$PLL
- Sector showing relative strength $AMLI $LAC
- Tightening up in a flag pattern, while surfing 10 DMA
- On weekly chart, stock has been building multi-month base
$PLL lithium production industry with a head and shoulders trend continuation pattern.
Right shoulder 12% deep for a technical stop.
Worth watching.
$SGML been on fire in that group.
Lithium play setting up. potentially pyramid into this with small position over the high of this cheat area and add to it on new high grounds and potentially market improving.
... and it's now in the "pump" phase!
The main competitors of Piedmont Lithium include U.S. Silica (SLCA), Energy Fuels (UUUU), 5E Advanced Materials (FEAM), Centrus Energy (LEU), Intrepid Potash (IPI), Compass Minerals International (CMP), Hecla Mining (HL), Denison Mines (DNN), Schnitzer Steel Industries (SCHN), and Orion Engineered Carbons (OEC).
Maybe I am jumping the gun with this one, but #PLL is shaping very well.
Constant bull pressure to pull the stock back from strong support around $0.67.
If it can only break the resistance this time.
20-30% play in short term. DYOR.
Disclosure: Hold
Price is stuck in a rundown between 1st and 2nd. $55 may act as local support, spike up to target area, only to drop back down lower, where it'll find mucho support before blasting off.
Depends on your risk appetite, but PLL is up around 40% off a recent dip and if it breaks through the current area might have a bit more in it before earnings.
Watch your stops.
Last week PLL decisively broke above the recent resistance area of $75 - where the previous lower high was. On Friday, it printed a pinbar with possible setup for long on Tuesday when markets reopen. When looking at the broad structure out to weekly we can see clear bullish trend with possible wave 4 turning into wave 5 here. I like the potential to at least...
$PLL looks like it's trending upward with good targets. I just bounced off the 618. Once it finds support or breaks the 618 I'll be entering for targets around $87 for 30 percent gain.
Good signs for piedmont lithium given the bounce, if i take the trendline out of it, id like to see PLL consolidate for a week around the 90-95c range before pushing higher again. Good stock in the right space with alot of volatility, and news from biden is setting the scene for lithium to have big growth this year.
