Tough day for LAC longs, but we kind of got used to it. No one really anticipated latest run to $19 anyway. So looking at the chart I saw pullback to $16.50sh but hitting below $15 – well… Obviously BOA analyst had something to do with it ( downgrading ALB and other lithium companies) and profit taking also must be a big part.
In a reality we can still test strong support at $13.50 , SP was there just few weeks ago. We got lucky today and SP bounce of 200MA $14.91 and ended up closing above $15. Maybe it will be nearest support for now , but of cause August 27 will give LAC SP new life, hopefully.
Things around the world need to settle down , that would help Big Guns and Funds concentrate making money again.