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Metalduster

5,483 Posts.

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27/03/19

10:43

Post #: 37897276
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Originally posted by Metalduster: ↑

GXY is still in a downtrend.

Theres no big money coming into the Sector or GXY atm. imo

Until the Consumer demands/chooses E/Vs over ICEs then the Car manufacturers will move at their own pace in the transition to E/Vs.

They also have to make sure that the Materials/batteries are in plentiful supply when that time comes also recharging/infrastructure is made simple,quick and effective.........With supply atm it wouldn't hold up if E/Vs were in total demand. imo

2/3 yrs and things may start moving/changing from the way it is atm or at the other end of the scale, it only needs one or more major big name Worldwide Car Manufacturers (Tesla aside) to bite the bullet and go all in E/Vs and the race is on. But everything has to be in place?

Until the above plays out GXY and the sector remains in a downtrend (not for long in the scheme of things) with Projects to develop !

Its trading range atm is between 1.86 and 2.22 atm. Its already touched a low of 1.895 and appears to be heading for a retest or at least consolidating in this Range.

A break below 1.86 and first major support would be around (1.78-1.74) where the trading range then becomes 1.53-1.86.

We all know whats coming with E/Vs and its a matter of waiting for the Car manufacturers to push the button.

(and holy sh#t the ICE cars are being flooded into the Aust. Market atm maybe its the last hurrah for them............)

poster asb83 makes a valid point when he mentions the next Quarterly for GXY may not look pretty if all we have is one shipment of Product and no positive news re SDV. (that will make 9 mths of negatives for GXY).

The moral of the story is to at least wait until the Qrtly is released in around a month.

Note: my last buy was noted at 1.99 and I'm not in a position to buy more so this is no downramp, only an opinion.

The woulda, coulda, shoulda days are not for me.

Md

Expand

"Its trading range atm is between 1.86 and 2.22 atm. Its already touched a low of 1.895 and appears to be heading for a retest or at least consolidating in this Range."

"A break below 1.86 and first major support would be around (1.78-1.74) where the trading range then becomes 1.53-1.86."
..............................................................................................

Broke support and will poke its head into the new range with overhead resistance back upto 1.99 (1.9.. 1.94...1.99)
First support 1.78 - 1.74

No positive sentiment yet towards Lithium stocks. imo

The down trend continues.
Md

GXY Price at posting: $1.87 Sentiment: Buy Disclosure: Held
7 Upvote

1 Great analysis

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