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Pilbara

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.
ASX:PLSLong
by Itachi239
ASX:PLS Pilbara - How much more to correct?Pilbara ASX:PLS has corrected nearly 85% from all time highs since Dec/Jan18. Now it is sitting at the Fib 0.854 @ $0.485. How much more will it continue to be shorted? PLS is one of the most heavily shorted stock on the ASX by the way. The previous bull flag took 69 weeks to complete. Although there might be no correlation but price-action is printing a similar pattern. I am hoping that this is a legit bull flag and that it will bounce here, otherwise we might be looking at $0.41 at the bottom of the channel before a bounce. Let's hope this legit bull flag will bring the price up to the top of the channel for a clean break out.
ASX:PLS
by paper_value
1
ASX: PLS Pilbara MineralsASX:PLS We are pounding on the support line $0.865 the third time. I am not confident that this support will hold, look for support around $0.81. The TK cross last week above the clouds was a sign of an incoming bearish signal albeit a weak one. Yet the prices continue to fall and refused to close above the clouds for 2 consecutive days already. I believe that prices will continue to trend south. A break and close above $0.91 will invalidate this view.
ASX:PLSShort
by paper_value
ASX: PLS Pilbara Minerals Where are we heading first?The volume on Pilbara is declining. That can mean 2 things. Investors are holding it and waiting for a good sell entry, or when volume comes in, weak hands will be shaken off. I am still hopeful for PLS to test the upper channel of the ascending triangle and hoping for a miracle to break upwards. But left side of the chart shows that an ascending triangle can fail and that's worrying because we might repeat here! 1W RSI is pointing down. My guess is as good as yours. **not financial advice**
ASX:PLS
by paper_value