Double Bottom with Billions of Metric Tons of Lithium - SLIHere I have AMEX:SLI on the Daily Chart!
Technical -
A Double Bottom Reversal Pattern has formed and with the Bullish Rally started from the ~1,800% increase in the Estimate to Reported Results for Earnings and Revenue on Sept. 24th, we see Price Breaking our Confirmation of Pattern @ 1.98!
This weeks Price Action has created a Volume Imbalance between ( 1.91 - 2.03 ) that Price may choose to Fill before it pushes Higher!
Now Price is struggling with the Resistance of Previous High @ ( 2.28 - 2.38 )
-If this rise can be sustained in becoming a New Higher High than our Confirmation of Pattern, we can expect Price to Retest this Break of Confirmation to find Support!
*If the Retest of the Break is successful, we can then suspect Price to find Resistance again at Previous Highs @ ( 3.59 - 3.89 )
Indicators:
- Golden Cross with 200 EMA and Dynamic S&R
- RSI is Above 50
- Strong Bullish presence in Volume leading to Confirmation of Pattern
Fundamental -
Under all this utter devastation that Hurricane Helene and Milton have done to North Carolina and Florida and now with the wildfires ravaging Wyoming, these disasters have uncovered massive Rare Earth Elements and Metal Deposits containing around Billions of Metric Tons of essential components needed to power our shift forward from the Industrial Age to what feels like the Digital Age.
-Adding potential future mining sites to the already known deposits in Nevada, Pennsylvania and California.
EV and other technology advancements will come soon now with these essential minerals and metals possibly on the Brink of Extraction!
Arca
Why BATT Could Be A Great ETF To Buy & HoldHere I have AMEX:BATT Amplify Lithium & Battery Technology ETF on a Multi-Timeframe Analysis with a Monthly & Weekly Chart!
Technicals:
Starting with the Monthly Chart, taking the Fibonacci Retracement Tool from the All Time Low @ $5.91 to the All Time High @ $20.78, we see that the Selling Pressure is waning with the Price Exhaustion happening in the Fibonacci 78.6% - 88.6% "Kill Zone" Range from ( $9.09 - $7.61 )
-Bears are losing grip on the asset
Zooming down to the Weekly where Price has visited the Kill Zone, we can see a ICT Concept Method called the Bullish Order Block taking place!
After Price found Support, Price created a New Swing Low Breaking Sellside Liquidity, then shortly after, Breaking Structure again while surpassing the Swing High!
-The Week Starting Monday, 29th of July 2024 creates the Bullish Order Block we should suspect Price to revisit before continuing its Uptrend behavior.
-This High of the Weekly candle sits right at the Upper Limits of the Support Zone and at the 50% Fibonacci Retracement Level!
**Price also could potentially make a deeper Retracement to the 61.8% Level to visit the LH it created before Breaking up through the Support Zone!
-Will be looking for Buy Entries in the ( $8.96 - $8.67 ) Range!
Fundamentals:
Lithium Stocks hit alot of hype in 2023 with the expectations of the EV Industry being our Near-Future way of transportation as a move toward a greener way of living!
EV sales wax and wane but as time as gone on, the look for the essential metal and mineral components needed for this industry to boom has began to fill as we are finding more and more vast and rich deposits of Lithium and other Rare Earth Minerals!
-https://www.tradingview.com/news/zacks:e90ae995b094b:0-bullish-views-power-long-term-lithium-etf-prospects/
With that, EV Demand will come
-https://www.tradingview.com/news/benzinga:5ead3a15a094b:0-arkansas-may-be-sitting-on-19m-tons-of-lithium-amid-rising-demand-for-ev-batteries-how-to-invest-in-what-elon-musk-calls-the-new-oil/
** Once Price goes Bullish, I have upcoming Areas of Value that it may contend with on the way up!
ARCAAnother extreme oversold small bio cap. Arca Biopharma Inc (NASDAQ:ABIO) touched a new 52 week low last week and closed at $2.36 a share on Friday. I think now is the time to start trying to catch this knife. Alone this company has more cash ($4 per share) than current market capitalization. Cash and cash equivalents were $58.3 million as of September 30, 2021, and they believe that its current cash and cash equivalents will be sufficient to fund its operations through 2022. Furthermore, the stock could get a boost from the current increase of the COVID cases worldwide, especially in Europe. According to CEO Dr. Michael Bristow, with rNAPc2’s combination of anticoagulant, anti-inflammatory and potential antiviral properties, he believes it has the potential to be effective in addressing COVID-19 impacts in hospitalized patients. The international Phase 2b clinical trial is nearing completion and they look forward to sharing its results in the first quarter. I have been accumulating shares again.
Brink of War?The charts never lie..
Conflict between the West and Iran is brewing.. German jets go down an the media spit out instantly that two high tech military planes crashed into each other (yeah fucking right).. as certain parts of the internet go down (cloudflare and other services). Oil attack after Oil attack.. Digital attacks on Iran already targeting military objectives.
S&P500 looking weaker and weaker.
Bitcoin has been running parabolic for 3 months straight now.
Lockheed Martin about to break out (military contracting/high-tech weaponry defense company) ~ most likely due to Iran tensions / Brink of War?
Gold is absolutely surging now, which I've been saying to watch since Q3 2018. Gold runs during time of uncertainty, usually while S&P500 finds its triple top and retraces.
It's like watching a horror story in slow motion.
The US war machine is in a trade war with China.. Iran is China's biggest exporter for Oil.
Economy looks fucked. Don't get into too much debt hey?
There's a reason banks are barely lending at the moment.