The price of Lithium has been falling rapidly all year and although this is good news for EV companies, not so much for $LAC right now.
That being said, it has worked its way down through the Fib levels of this Wave C and is still trying to secure confirmed support on one of the levels.
There is a battle going on at the 0.78 Fib at $6.40 and so far it has bounced from this level, but we certainly need to see more signs of a reversal before confirming that this is starting an impulse wave next.
I believe going forward, Lithium will play a large part in many industries, so this may be attractive at this level.
Noah
2023-12-15 15:47:47 +0000 UTCRandumbInvestor
2023-12-15 15:21:26 +0000 UTC