MZN and Lithium Peer Chart Analysis
(edit: realised I left CXO chart out; reported previous post)
Out of all the lithium stocks being sold down MZN is the only one where the Chart is still looking extremely bullish.
Here's a comparison of the stocks: KDR, KSN, CXO, LTR, PLS, BGS and MZN
All but MZN have one thing in common, the others have hit new highs and became exhausted and the MACD topped and turned down, huge volume spikes, the EMA and MA lines also topped, moved apart and turning down. All signals for short term traders that the uptrend is over for the time being and it's going to be dropping and not reversing as yet.
MZN is the opposite and looking very good, yet to have it's run and everything still trending upwards looking very bullish. It's at a cross road, needs good further news to keep going, given the potential Zinc acquisition, find out tomorrow as well as the Lithium Field Work results due very soon and then drilling to start for land next to KDR, it's run should really just be starting if good news (obviously).
Breakdown of the lithium players charts.
MZN Chart first with the others below for comparison of trading trend, if you ever wonder why you buy at the tops and the share price then falls after you buy, well this is why
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