Based on our analysis there is scope for traders who are interested, to consider taking on aggressive long positions if the support zone continues to hold strong moving forward. The higher swing low trigger would be the more conservative approach and the best one under the circumstances. Considering we still have question marks as to whether a major low point has locked in or not. A swing above 30.56 that sticks will also take price back above the 200 day moving average which it hasn't been able to achieve for over 12 months. It might be worth starting to put some of those beaten down ASX Lithium stocks onto your watch list to keep a close eye on over the coming weeks and months.
GXY Price at posting:
$1.97 Sentiment: Hold Disclosure: Held