PLS Long (ASX)
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 reached as low as $3.5 during this period. This could either be a completed expanding flat or the C wave in this flat could actually be the beginning of a new A wave. As demonstrated by the 2016 to 2020 corrective flat, prolonged consolidation lead to a 35 bag movement.
Regardless of whether it's the beginning of a new A wave or the end of an expanding flat, consolidation is healthy. Expect short term upside too. PLS long for the next decade.
**Note: During the end of March 2023, Albermarle attempted to acquire LTR. The big players are accumulating despite bearish sentiment.
Regardless of whether it's the beginning of a new A wave or the end of an expanding flat, consolidation is healthy. Expect short term upside too. PLS long for the next decade.
**Note: During the end of March 2023, Albermarle attempted to acquire LTR. The big players are accumulating despite bearish sentiment.
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