SEHK 1772 - Ganfeng Lithium Double Bottom Breakout
One of five priorities in China's 14th 5 year plan include pledges to peak carbon dioxide emissions by the year 2030 and at the same time, venture into green energy as an alternative energy source. Ganfeng Lithium - One of Tesla's lithium battery supplier - has been benefiting from this trend.
On the daily, we can see that Ganfeng has formed and broke out of the Adam & Adam double bottom; a bullish pattern. This is in confluence with two bullish pin bars the prior two trading sessions and a decrease in volume before a huge volume breakout today.
Have gotten myself a position at one of the Adams and will plan to swing it till the up-trend breaks.
Links:
China's 14th 5-year plan - crsreports.congress....oduct/pdf/IF/IF11684
On the daily, we can see that Ganfeng has formed and broke out of the Adam & Adam double bottom; a bullish pattern. This is in confluence with two bullish pin bars the prior two trading sessions and a decrease in volume before a huge volume breakout today.
Have gotten myself a position at one of the Adams and will plan to swing it till the up-trend breaks.
Links:
China's 14th 5-year plan - crsreports.congress....oduct/pdf/IF/IF11684