Foren & Soziale Netzwerke zur LITHIUM AMERICAS Aktie

 

Bought LAC around the open. Stock has a bit of momentum to it, waiting to see if the momentum will carry through today. We have a decent consolidation.

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I believe LAC may have begun its 3rd elliot wave, with a bottom at $2.33. There also appears to be nice recent strong base support around $2.80. In addition, there appears to be a deviation between price and money flow, as shown with the green arrows - with a potential correction available to push price beyond $3.30 very soon. I have entered and will watch its daily action and volume with an upside expectation limit around $9-10, then a 4th wave down, etc. Of course, I am not a financial advisor and I have been wrong before and will be wrong again. I trade within this reality and control my risk.

I believe LAC may have begun its 3rd elliot wave, with a bottom at $2.33. There also appears to be nice recent strong base support around $2.80. I have entered and will watch its daily action and volume with an upside expectation limit around $9-10, then a 4th wave down, etc. Of course, I am not a financial advisor and I have been wrong before and will be wrong again. I trade within this reality and control my risk.

I've been watching NYSE:LAC for a LONG time. I've traded this one in the past. We fell all the way back to a major support zone from all time highs, and we also landed right on the long 13 year trend line for a 5th test. Now, I typically dont take trades off trends that have been tested 4 times or more. But, in this case, our monthly trix is green, after hitting that trend and major support, and we also have volume capitulation showing up on the monthly chart, as well as the quarterly. (Not shown.) As far as pattern, our initial break out move was a nice engulfing candle, and we did in face break the upper monthly band, the white moving averages that follow the tops and bottoms of the candles. What you look for from here is a pull back to the opposite side of the bands, aka, the lower monthly band for a "first touch," this is where you enter, and is where I bought at $2.79. First target is the upper quarterly band at $4.25. From there, you have the 1.27 Fib at $6.75, and the 1.61 at $9.25 I will likel