LAC Broken trendlineNYSE:LAC
Taking a look at LAC here.
Breaking a trendline going back to 2020
with not much support looking left.
could be in for quite the fall from here
keep an eye out all you bears out there
LAC trade ideas
Symmetrical Triangle - Watching closelyWatching LAC and the lithium sector closely here- LAC is currently holding a massive symmetrical triangle on the daily timeframe while holding an even larger falling wedge on the weekly timeframe (See Attached Charts Below). Additionally, LAC is sitting right on its 100-day SMA, which, is has been acting as a strong support level for quite some time. LAC's EMAs are starting to curl upwards as well (Not Pictured), accompanied with a bullish cypher harmonic pattern on the daily timeframe, and lastly some bullish hidden divergence on the RSI on the weekly timeframe. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime
-- Price Targets & Previous Charts Attached In Description -
PT1- $27.69
PT2- $28.56
PT3- $29.96
PT4- $31.15
--Weekly Timeframe--
--Previously Charted--
LAC long, target $28.50-60Dowsing this morning says to be long LAC all day. It's heading up and target is $28.50-60
LAC (tsx) Weekly Inverse Head and Shoulders idea Possible Weekly Inverse Head and Shoulders . Detailed Description in Chart
Waiting for break of wedge on higher time frame for entry but watching to move higher than making a Right shoulder on a possible Head and shoulders (daily chart). Watching for Higher lows on higher time frames. Overall though is could move to top of channel on weekly. Risk management is paramount in this market, trade what you see and profits are profits even if they're small!
Lithium Americas and the Electric Vehicle BandwagonAfter reaching a high of over $41 in 2021, Lithium Americas has languished since, spending much of its time in the $20’s range. This is not surprising, since LAC does not make any money and carries over $230 million in liabilities. However, I believe that LAC share price has the potential to make an exponential run over the next 5 years.
The bearish case.
Before discussing the potential growth of this stock, it’s important to discuss the bearish scenario and risks for this company. The biggest risk for LAC is the environmental concerns for their Thacker Pass lithium field. Earlier in October, a federal judge delayed a hearing regarding a lawsuit opposing the lithium mine there. The judge set a new court date for January 5, and while it is unlikely to stop the mine, LAC is in the pre-production phase and has no real sustainable income, so any delay affects the cash position of the stock.
The cash position of LAC is solid, with around $440 million in cash and a $75 million line of credit and a cash burn rate of around $10 million per quarter, indicating the long-term impact of any delay is minimal. If they need to raise more cash, they may liquidate some assets, this would lower the book value of the stock to below $6.
The bullish scenario.
There is already an enormous gap between supply and demand for lithium. Analysts forecast the demand for lithium to increase by 1,200% in the next 20 years from the current levels. The green pioneer state of California has already set a roadmap to ban the sale of new gasoline vehicles by 2035. Likely, many more states and countries will follow suit. While there are environmental concerns about the Thacker Pass mine, of which they own 100%, the push for electric vehicles will weigh heavier on the decisions of regulators. This is the largest lithium deposit in North America, so the likelihood the USA Government will leave those reserves untapped is minimal. The company is still moving forward with construction plans for the mine and plans to assist the Shoshone tribe located 40 miles from the mine.
Even if there is a delay at their USA mine, they own 44% of the largest brine resource development in South America. This mine is close to completion and they expect to generate between $2.3-$2.5 billion in annual revenue with lithium at its current price range for the next 40 years. If lithium prices continue to rise, then the profit margins will experience exponential growth.
Unlike some unprofitable companies, LAC does not carry much debt on its balance sheet. Their current debt is just over $200 million, with many investors choosing equity over debt. With a strong cash position and low debt, they will complete the development of these two mines in a strong financial position. When the Argentinian Cauchari-Olaroz and Thacker Pass mines become fully operational, these two mines will produce a combined 60,000–70,000 tpa.
I expect over the next 5 years, even in weak economic conditions, to see LAC market capitalization rise to $30-$40 billion or a stock price of around $200-$250. Lithium powers the electric vehicle bandwagon, and Lithium Americas is poised for exponential growth in the coming years.
QuickTrade n. 75Price action is negative.
Long : Looking for a test of the 21h to the 50h OR 250h
Short: looking for a continuation with the 50h as resistance
LAC is forming a C&H out of the Double bottomTagging on to my previous posts I have made on this one. The 4 hour chart is shaping up nicely for a pull up. Whether this is a short term or long term, I am bullish on this one as a lithium play
LAC - Weekly trade and Long term swingShort term Trade Plan:
- Bounce off of the 22 zone or 19 zone.
- Need to find a MACD Cross move which looks like it is gearing up for this coming week
- August 4th is the earnings announcement which Wall street expects a 12.5% improvement over last earnings.
- Looking to capture a 5-10% move this coming week.
Long Term Trade:
Although I have day traded the pattern often between the 19-22 zone the past few weeks, I do however have a long term position on this one as well. As demand continues to build around the world, the need for lithium will continue to be important. Especially to our North American economy. This company has the fundamental capabilities to be a solid swing for strong ROI. My thoughts on this is driven from both company infrastructure and plan to US political support in the future ahead here.
LAC BreakoutNYSE:LAC
LAC with a daily breakout here
adam and eve double bottom along with a "dragon" pattern seen here as well
there is some resistance above here in between 23-25
if we do break the 25ish resistance id be looking for this thing to hit 30
thanks everyone let me know what everyone thinks of the current market conditions.
exciting if you ask me.
Bullish long Swing Play on LACThis is one I think will be good for a long term play. The trend on this stock has been quite predictable in its up and down movement and from what I can see I believe that the $30 zone is a good place to make my first entry position. I am prepared to buy the dips as they come with the expectation that it would bounce off the low to mid $20 support zone if it did. For the most part I am looking to scale back my positions as it goes based on 2 specific spots on the chart as marked already. Otherwise I will let the remaining balance ride as far as it can. With the demand on Lithium and the need for its supply, I think we are still early on in the game.
Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.
LACStill holding 4--8-week play, SPY looks weak for now but i think may recover as week will end else need to think for other strategies..
Falling Wedge- Bullish - UpdateJust posting a quick update on LAC here as it appears to be setting up again for another leg up. I played both previous run-ups when it was setting up very similarly to how it is now. Big falling wedge on the daily timeframe, clean bounce off the $19.04 support level, some bullish hidden divergence on the RSI, and a MACD golden cross on the 4-Hour Timeframe (Not Pictured). Additionally, LAC formed a massive bullish Gartley harmonic pattern on the weekly timeframe (See attached chart below). Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description --
- Falling Wedge
- Bollinger Bands Squeezing
- MACD Golden Cross on the 4-Hour Timeframe
- Bullish Gartley Harmonic Pattern Formed
- Bullish Hidden Divergence on the RSI
PT1- $24.23
PT2- $25.89
PT3- $26.94
PT4- $27.69
-- Weekly Timeframe --
-- Previously Charted --
LAC Long Climbing Bullish TrendI see only two scenarios. High probability.
Play the biggest commodity supply squeeze in history
Buy LACThis is looking like a decent setup here after retesting the inner medium line of the pitchfork, and downward sloping trendline.
Need to see what happens today.
Looking for price to go to 41+
will we see a 7th bounce off extreme support? >.<chances are history repeats itself like it always does in these markets :) great risk reward for longs here in my opinion. lets see what happens!
good luck, and don't forget to like and follow if you enjoy my analysis! have a great weekend <3
LAC 1D LOOKING BULLISHLAC has been in an uptrend on Daily chart since 16th march of 2020.Took a steep uptrend from 9th Aug 2021 forming a bull flag on Nov 5th 2021 which broke out on 8th Feb '22 to the highs of $39.
Triple bottom formation from 24th Feb '22 to 15th March '22 bouncing to highs of $39 again!
A pennant has formed since 15th March '22 and should break out to $39 if not more
LAC Last time
I posted LaC as a short was around 40$. Taking about it coming back to lower support of this rising broadening wedge. Now this isn’t a bullish pattern and with market sentiment this can fall through the floor. Howver here we lay around that support we discussed. Either taking postions here with stops below if we close a daily below 25$ otherwise we could see a push up in the comings weeks. I’ll take the probability of this going back towards the upside as long as we contiue holding candles above this lower support
Unlikely Lithium Americas (NYSE: $LAC) Will Get Much Cheaper! 💯Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina. The company was formerly known as Western Lithium USA Corporation and changed its name to Lithium Americas Corp. in March 2016. Lithium Americas Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.
Lac Tapping thi upper reistance of this long term rising brodening wedge around 40$. This I pretty extended and if we see a larger move down the lower uptrend support is around 26$
is LAC is LACking the strength to break all time high? xD LAC at extreme resistance! buying up here is very dangerous in my opinion. we will most likely see another dip to trend support in the next few months before another leg higher!
