CXO may start going upward !!CXO should start going UP from here.... It seems like the line has been crossed... Hopefully it should bounce back from here.
CXOXF trade ideas
CXO.ASX Core Lithium Chart Trend Study.Core Lithium listed on the Australian Stock Exchange was once a Darling up +550%, but became a Dog IMO.
As seen on the Trend Chart Study, these commodities are very cyclical, and by Zooming Out - the Clearer Picture is seen.
One should always do this for Commodity Type Stocks. They are almost never long time Investments.
However, if one can Grab some at the right time, then some nice Gains are to be had.
This is always extremely difficult in the beginning, and almost nobody gets it correct.
Rather wait for the Chart and Indicators to show this clear change of direction.
Also never add to a losing Trade / Investment. This will only accelerate your loss.
Doing this is called REVENGE TRADING. "Only the Mass Market can move the Direction."
Also get Expert's advice before making any Trade decision's.
My Chart Study is for Education purposes only.
Smash that "Rocket Boost Button" to show your appreciation for my Studies.
Regards Graham.
CXO ( potential swing trade long - April 2023)CXO looks to be forming a running flat in the short term. C-wave is incomplete so a little patience is required before considering an entry. Any move to the golden zone will need to be scrutinized. The 92c and 89c level represent sturdy resistance and support zones. Could also possibly become an expanding flat in the future. A tight stop loss here (5 to 7%) is required if there is a decision to play.
CXO LONG (ASX)Moved from a running flat to an expanding flat . Spot lithium prices have fallen 34% in the month of March, highlighting a slowdown in demand caused by contractionary monetary policy. The spillover effect onto major banks indicate a stronger possibility of further downside which may lead to a recession during summer (US). Downside is clearly linked with a number of macro factors including Fed induced banking crisis (SVB) and dropping lithium spot prices. Lithium stocks have dropped significantly in March 23 so will be expecting more corrective movement for now.
The world is moving towards electrification and CXO is now a producer. My forecast is that CXO will exceed $2 in 12-18 months .
Bullish!History were and will repeat. Please take into account everything before you buy any stock. Im not expert and it’s my opinion. Fundamental are very strong covering price of lithium to expect cxo as next producer of lithium in less than 6 months. No debt and seeing professional expectation of increase income means only more cash for cxo. Hope to see dividend payable to holders. Lithium sector is the strong place to be. New government at Canberra support more EV as we all know. I upload what I could see. Who is able to see what happen next. Only to compare experiences with history.
Good luck and happy holding CXO. ✌️✌️✌️
100% BUY ABD BULLISH
CXO PREDICTION CHART 3 MONTHS/6 MONTHSKEEP IN MIND
Price of globule lithium range between 375000 to 500000 cny/t
Production by oct/nov 2022
Other row material such as uranium, gold at core lithium sites
Extended of mines life
Minimum price of share is at around $2-$3 by dec 2022
I would personally take advantage of low price at the moment before building new high
CXO - Has run up last 2 weeks, is the bull run over?! Hi All!
I noticed this pattern when checking the performance of the Lithium stocks on the ASX today. Core Lithium has been one of the markets favorite lithium stocks on the ASX and has had a great run in the past year. The two bearish patterns observed make's for a short trade.
It reached ATH on 3-Mar (point 1 on the chart), pulled back and continued to make new ATH. After today, it has created a Broadening Top - each new ATH is only marginally higher than the previous high after a short pullback. This is a BEARISH pattern.
To confirm the broadening top bearish pattern - the accumulation/ distribution line (ADL) is also showing a bearish divergence pattern - when the price trends upwards but the ADL is trending downwards. Basically more people are selling than those who are buying, so there is a lack of conviction to keep this rally going. We can expect the price to eventually turn bearish when this is observed.
Placing an order for the following trade to go short - anticipating a move down back close to the previous high volume profile node around 0.81. Taking the TP just before around the level where a previous resistance and support levels are.
ASX's CXO has that nice Run, Pullback, Run pattern that I like.CXO has been running really well over the last 12 months and especially recently with the surge in demand for Lithium.
I like these kinds of patterns and will try and focus on them more in 2022 where the stock has been in a nice uptrend, had a pull back to a value area and then resumes its run.
I'll spend more time looking for these using the 20 day moving average as my filter in the screener to look for them.
CXO might be a bit expensive now if you don't already hold, but the easy way around that is to set an alert for when it crosses back below RSI 65 and start to keep an eye on it from there perhaps.
Lithium definitely having a good run and may for a while. Whole world is transitioning across to electric vehicles quicker than I think most expected.
ASX Based Core Lithium SwingingSaw this a couple of days ago but didnt press the buy button as I was chasing some of US EV stocks, but its up 8% today and looking reasonably strong. Little bit of upside in the swing still left, but could of course reverse soon. Be interesting to follow it with a close trailing sell. Might be worth a look.
