MGXMF MXG Minerals Trade AnalysisA current trade of mine that I'm publishing to see how it plays out. Very bullish stock at the moment in what looks to be in wave 3 of a grand cycle with this being wave 1 completing of this first impulse. I'm watching price very closely at this moment to see if a correction will play out in my favour. It has also formed a cup and handle on the weekly where it is ready to break trough the cup and form the handle, another bullish sign in my view.
Disclosure - I'm totally a novice trader learning Elliot wave theory and technical analysis. These are just my ideas/current trades, this is in no way shape or form financial advice. Thanks for viewing.
Lithiumsector
OROCFOrocobre has been going great since entry @2,50. Rebuy levels havent been reached yet and thus i will just let in run on. looking to add on @3,21 and 3.
Lithium Long Term ExpectationsRight now investing in Lithium for short is high risk. If you were to invest in it, it would be better for a long term holding that is at least a year. That way it will still be risky, but you are to expect some minimal returns. Late 2018 to mid 2019 will expect a potential rise in the price of Lithium because of EV startups. Since many companies are going to be using Lithium ION as a source of power it will transition to a higher demand but less available supply for purchasing meaning some small upward trends.
LK9 short term short looking for new long entriesCurrently waiting for confirmation for wave 4 and will take small short position aiming for current reentry levels on the long side @2,26 @2 @1,64.
medium to long term targets for the long positions start @3,54 and @5 respectively.
200-day Mansfield relative strength index for stage analysisAs per Stan-Weinstein's book The Secretes for Profiting in Bull and Bear Markets, 200-day Mansfield relative strength index is an important indicator to determine the stage of a stock. The basic calculation is using the close price of the subject stock and close of a benchmark index using the following formulae:
a - subject stock
b - benchmark index
SMA (x, p) - simple moving average of x over the period of p
MRSI200 = (( a.Close / b.Close ) / SMA (a.Close / b.Close, 200) - 1 ) * 10
Strong bullish sign on LAC. Consider entering on its pull back in the range of 1.3 - 1.5.
GXY:ASX - another strong breakout in ASX lithium stockI missed this breakout /I concentrated to other similar stock PLS/. I hope there will be pullback to 0.44, which will allow better RR. But I am afraid there will be only north on the compass.
First shipment from GXY mine will be sent soon:
www.galaxyresources.com.au
Comeback?SQM is claimed to be the efficient chemical mining leader in its group. Lithium demand and prices, as well as output along with the stock is expected to increase. SQM financial is weak relative to prior performance, but current levels are holding up and is expected to improve. Lithium competition: ALB, FMC, ASH, POL, TLH, LIT, GXY, LAC, ORE, CLQ, and WLC
$AMEL On Bounce WatchOn the hunt for the next hot sector? Will the Pot sector return to glory? Well the lithium sector could become the front runner with the right catalyst. Tesla is on the move to build new factories and add in a rise on oil and the lithium stocks could get dragged into the spotlight.
Aside from that speculation; $AMEL is a former runner that is starting to form a nice base at the .0024 area. I will be watching for a break above the shown downtrend line with some volume and we could have a nice bounce.
Ok, now its time to get back to my DD on $TSLA and lithium OTC stocks.
Good Luck!