Will we make an attempt at 28 this week? I asked the same...

Will we make an attempt at 28 this week?

I asked the same question last week. No we didn't. In fact we were testing the lower levels, And then I felt overall Li macro came to the rescue. That's how I read it, I could be wrong.
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From a weekly perspective, a slight drop from 26 to 25.5 - so not material. A test of 22.5, which I was thinking is more of 22, as I have written about 22 a lot as a resistance. fortunately it held.
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Last week I wrote is the recent rise due to some impending news. We got a news on Monday. Not a mover on SP as we already had a decent increase leading up to it. Now focus on May 2024 MRE. Not much time left for that - max 2 weeks. One thing that is in favour is that general markets are improving, Li macro is improving. So on overall macro, we could see some gains due that. But now I feel that to get over the key resistance of 28 and move towards 35, market may wait to see what that MRE looks like. Doesn't need it needs to happen after announcement, we all know there are always some in the know, so I will be watching price action whether to add/subtract.
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Personally I am still holding from 23.

For those interested how stock is tracking against other Lithium stocks or who hold multiple Lithium stocks, I do a Weekly Report across 96 ASX Li stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.


Here is the report for this week.
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https://hotcopper.com.au/threads/sya-weekly-report.6951924/page-3#post-73895580
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