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Orocobre

OROCOBRE LONG / SHORT TARGETSOrocobre is one of the few lithium producers that, as of now, has not hit its alltime-high again. The stock is currently testing an important resistance (resistance level 1). If the stock would clearly surpass this level, a bull-run may occour (according to currently positive EMA signals and RSI). The following analysis gives guidance on possible long and short targets in this regard, based on the respective resistances and support all the way upwards to a new all-time high.
3
by Mr_PDR
ORE.ASX weakness may continue through $2.20Hello Fellow Trader! ORE.ASX - Lithium producers have been some of Australia’s favourite stocks for several years supporting the worlds change turning to renewable energy in the battery space lead by Elon Musk and Tesla. Last weeks Tesla Battery Day was hyped up to be an extremely positive presentation that would skyrocket lithium back into the Australian headlines. Sadly, Elon mentioned how Lithium is not scarce and they have also found ways to extract the commodity from the ground using salts in a more environmentally and efficient way than any other producer. This signaled panic and hinted a disconnect from the Australian lithium market which include ORE. Overnight, Albemarle Corp and FMC Corp (two of the largest lithium producers on the New York Stock Exchange) fell between 2.5 and 2.8 percent. Key Points: - Price holding below the 200 EMA - Price holding below the 50 EMA - Consolidation below prior range low - 50 EMA and 200 EMA may cross supporting further downside. Key Levels: Support – $2.20, $1.83 Resistance – $2.65, 200 EMA, 50 EMA Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – $2.54 Supporting Entry – $2.49 Candle Reversals for entry - Bearish Shooting Star - Bearish Engulfing - Bearish Dark Cloud Cover The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks above $2.69 level and violates 50 EMA – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry $2.54 – Target 1 $2.20 = 3x Reward to Risk Supporting Entry $2.49 – Target 1 $2.20 = 1.5x Reward to Risk
OShort
by tradetheday
Important Levels Orocobre (euro chart) Neutral (3-6months)Positives (Like to see it stabilize around these levels) Infrastructure is in place, making pofits and re-investing the market will eventually turn to demand driven, when the major car companies start releasing more electric models. VW will release GOLF next year.. 5% of car owners in my company have electric cars (stockholm). the intial costs for the car are still high, but the running costs are 10km- 14 American cents Big claim time 2020 will be the year for the electric car. So Uranium: Copper: Nickel : Lithium Battery growth (lithium main technology?) Negatives Unstable financial markets; trade disputes : strong dollar Volume as sank to very sad levels so this is no trading stock- Large spread between buy & sell side. Argentina added an excess charge on all exporting companies. They have also been known to re-nationalize companies. Oversupply of Lithium in the world
3Long
by PoPnoStyle