5 Star, twinkle-twinkle...
posted on
Sep 15, 2023 02:42PM
We can only imagine how SP would perform in a bull market.
Obviously, accumulation is going on, and the chart shows overbought condition with a gap, so normally SP would retrace at least 50% back to maybe $20 or so.
But considering all the latest news, a breakout is also possible, we are kind of in the middle of it anyway. So LAC SP is unpredictable right now. In a positive scenario, SP can get to a resistance of $23 by October 3rd.
In the meantime the Morning Star gives LAC a 5-star rating, you can read their analyses on the Schwab page :
“… After updating our model to incorporate Lithium Americas' second-quarter earnings, we are maintaining our $50 per share fair value estimate (CAD 67) and no-moat rating. At current prices, we view shares of Lithium Americas as significantly undervalued, with the stock trading at less than half of our fair value estimate and in 5-star territory…”