PLS - Pilbara Minerals

[qldfrog]

Hi Country Lad,….


Great analysis of the PLS P&P Chart!....

I noticed that P&F Charts are not discussed much in ASF - P&F Charts seem to be a taboo subject here…..

Good to see that someone else uses P&P Charts…

IMO P&F Charts are where Technical Analysis Charting Training for Beginners should begin.

Once Beginners understand the mechanics of P&F Chart’s they should naturally expand their knowledge of Charting Technique’s by exploring all other TA Charting Tools of Trade.



P&F Charts are where I begin my TA, then I wander off to Candles, Indicators, etc, etc, and eventually to my Financial Analysis processes – BUT, my last TA action is to refer back to the decisions made while evaluating my original P&F Chart, just to make sure the other TA Charting Tools of Trade have not led me astray.

I think i should really dig in and start mastering these.
P&F as a start it seems

 

[explod]

Never worry much about charts myself, just fundamentals and if good I hold

 

[Rabbithop]

OMG it reached $5! Go to $6 n I will be stomping with laughter!

 

[Rabbithop]

Hey Boggo, can you please do a chart on PLS? The last one was on 19/9 #171 post. High on 5.75. Thanks in advance

 

[Boggo]

Hey Boggo, can you please do a chart on PLS? The last one was on 19/9 #171 post. High on 5.75. Thanks in advance

No change Rabbithop, chart is still following the same pattern towards 5.75.

 

[Country Lad]

Interesting that it ticks all my boxes for what I need as a breakout for a buy signal.
Broke thorough….

• P&F pennant
• CBL
• Darvas
• Bar chart pattern

….and has divergence between OBV and Siroc.

If I didn’t already own them I would likely buy. However, in this specific case I would want to see good momentum before putting in a buy order. Reason being to make sure it was not just a knee-jerk reaction to the big DOW increase and the less than expected interest rate increase.
Very rarely does a share with all my boxes ticked like this not see higher prices in the short to medium term.

 

[Rabbithop]

Thanks mate

 

[Boggo]

From Stockhead...

 

[explod]

Yep, love it and making a lot of money. Trying to work out tax issues now.

All over the news so it's only the beginning in my humble view. DYOR

 

[explod]

SOoooooo, look at this wonderful thing.

 

[Colm Doc]

Careful with PLS Guys – TA has turned sour since my post last week.

Most TA now points to $3.88, or Lower to $3.30.

CCI (pages 108 & 109) is dropping into O’Sold Territory (pages 37 to 43).

MFI is still falling but not as dramatically (page 95).

Linear Regression (pages 139 to 142) shows that the SP is now dropping from it’s Top Band, and is it is probably heading for abt $3.60 within the ST.

Said last week that I did not know anything abt the PLS Financials – had a quick look today, Sheite!!!! – what a mess – years of virtually no recognisable financials – to the current June 2022 "Overstated & Overblown" figures – still no consistent Earnings, No Dividends, and a dozen or so other Financial figures that have jumped from years of Negative figures into reasonable (but unsubstantiated) figures.

Certainly NOT a Buffett Style Stock – It’s still in the ”Basket of Unknown Stocks”.

So, if you are going to re-enter PLS I hope it’s as a Short.

View attachment 147500

As Usual Remember to DYOR.

Cheers.
DrB

I hope you didn’t short PLS .

 

[explod]

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Pilbara Minerals crashes through $5 barrier, now worth more than $15 billion​

On May 30, 2014 a 1c penny dreadful called Pilbara Minerals (ASXLS) announced the purchase of the Pilgangoora tantalum project near Port Hedland in the Pilbara (reports Stockhead).​

6th October 2022​

Share Article​

It contained around 87,000t of lithium oxide, a product PLS quaintly said was used in ceramics, glass, batteries and pharmaceuticals.
“Lithium use has expanded significantly in recent years due to increasing use in rechargeable batteries in portable electronic devices and in batteries and electric motors for hybrid and electric cars,” the company told early investors at the time.
How quaint.
That same penny stock is now a $5.45 giant, after climbing by more than 12.1% today to crash through the barrier, with a valuation of over $15 billion.
Few could have predicted the pace of the rise in EVs. As many are sold each week as were purchased in all of 2012.
And more positive news on pricing has spurred the action.
They’re not the only pricing agency out there, but the last report from Fastmarkets MB has laid out a pretty clear picture of continuing tight supplies in the key Chinese market.
Prices lifted almost US$3000 for lithium hydroxide in China to 535,000 RMB or US$75,182/t in their last assessment on Monday night, with lithium carbonate only a touch behind.
The Federal Government has also issued a pretty positive forecast for lithium pricing. While it doesn’t see spodumene staying at current levels forever — PLS pulled in the equivalent of US$7708/t for its last BMX auction sale — it does think they’ll be high enough to support ripper earnings, with total lithium sales from the world’s largest producer to rise from a tick under $5b in FY22 to ~$14b this year.
Prices are not forecast to remain at current spot levels but are expected to remain high, averaging US$3280/t in 2023 and US$2490/t in 2024.
That is well above incentive pricing, with lithium hydroxide expected to average US$51,510/t in 2023 and US$37,650/t in 2024.
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View All FitzGerald Prospector’s Diary Market Insights Deep Value Company News RRS TV

​

 

[Gunnerguy]

Sold some $3.9 Nov cash covered puts today for a nice premium. I missed this one last year. Like some of my other sold puts and put credit spreads, I like the premiums and if the price falls I’m ‘probably’ happy to be assigned.

Gunnerguy

 

[DrBourse]

I hope you didn’t short PLS .

YEP - And I hope you and the other PLS followers took note of my call - although it's looking a bit wobbly over the next few days.

 

[Boggo]

Just another yank broking house creating nervousness similiar to the overreaction created by Goldman Sachs in June before they bought up more.

Lithium stocks tumble after Morgan Stanley flags fall in both price and exports

A bearish lithium note by Morgan Stanley has triggered a broad-based selloff among local names, with heavyweights Pilbara Minerals (ASX: PLS) and Allkem (ASX: AKE) down a respective -5.4% and -3.9% in early trade.

www.marketindex.com.au

 

[Boggo]

Looks like all the significant lithium stocks got hit by the bearish comments from MS.

 

[DrBourse]

I mentioned that the REE Stocks were in for a fall back on 17/7/22 post #113, 12/9/22 post #1514 & 1516 & again 25/9/22 all in the LYC Forum - AND on 22/9/22 in the MIN forum - been waiting for the so called experts to realise that the REE's were in trouble, looks like the "perverbial just hit the fan" now that the "Experts" have finally put it into print.
Better late than never I guess.

 

[explod]

Quarterly

Looks like all the significant lithium stocks got hit by the bearish comments from MS.

View attachment 147990

report out in about a week and it is going to be excellent on current profits.

Main street media fed by big business wanting to get in. They will not get mine. The best investment I have ever had.

 

[waterbottle]

Quarterly

report out in about a week and it is going to be excellent on current profits.

Main street media fed by big business wanting to get in. They will not get mine. The best investment I have ever had.

Morgan Stanley hit piece has the same themes as the Goldman Sachs piece earlier this year - both questioning possibility of oversupply.
Lithium prices have held up surprisingly well given the volatility other commodities have experienced.

 

[Boggo]

Certainly a demand for their product.