NYSE Listed LITHIUM ETF “LIT” after a nice rally and around 100% gain from the climax low appears to have stalled in it’s medium term trend.Amongst it’s holdings, ASX listed ORE,GXY,PLS and LIT are listed according to their factsheet . None in the top 10 mind you.Most recent rallies are almost equal in amplitude to the reactions ( colum of Xs compared with column of 0s) . I have taken 2 Horizontal Counts ( Tentative Bullish Price Objectives) one from the basing pattern and on…e from the most recent re accumulation pattern which are shown on the chart. Software at StockCharts.com also have a Vertical Count with a Tentative Bullish Price Objective as shown.There are off course other counts which one may take. All three suggests that a halt to the bullish move at current levels is likely. That appears to be the case looking at the recent column of Xs and 0s.There is no SELL signal to close an open LONG position as yet either with LIT NYSE.Analysis continues…
Chart is courtesy of StockCharts.com
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