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The chart is neutral in the last few months relative to it's decline and ADX is indicating a very weak trend.... with a reading of 13 it is in bounce territory because of it's recent low and as such could be said to be ranging with Balance of power showing little or no commercial selling.... this is breakout timing with the direction of the breakout hindsight...
The downside considering the safety in location... Quebec... noticing the quality of the resources... shares out and recent financing... as well as insider buying front to back.... seems to be price setting up for an upward move... I wouldn't chase.... but a bid in the .10 cent area seems a potentially productive, holding over the next 12 months for a double such that at the very least this small cap quality is conservatively speculated to mirror past valuations of any similar stock to be in the .40 to .60 cent range in a better setting...
This link takes you to a video of Rick Rule.... This guy knows sentiment trading.... strong prospects at the right price make a good hold!
This link takes you to a recent commentary on lithium prospects for 2014 where this mention was near the end of the commentary which is just about the best place to be mentioned in this professional looking presentation..... some interesting information there on other potential prospects... read the whole thing.... here is the quote from the article ...
LM: Our base-case forecast is for an average of 5% demand growth per year until 2020.TMR: What lithium companies do you cover with Speculative Buy ratings?LM: We really like the to-be-formed RB Energy, meaning Canada Lithium, most of the revenues will still come from lithium.We also like Nemaska Lithium Inc. (NMX). It has a good-sized, high-grade deposit in Québec. The company is working on its feasibility study and is looking to raise funds to build the first module commercial plant. Nemaska has an agreement with Phostech Lithium (private), which will take 100% of the production from its first plant. Sichuan Tianqi Lithium Industries Inc. (002466:Shenzhen), the leading Chinese lithium company, owns 16% of Nemaska shares.Nemaska is targeting the hydroxide market, rather than the carbonated market that Canada Lithium is in. Lithium hydroxide sells at higher price than lithium carbonated. This story has great potential.TMR: Do you have any parting thoughts on the industrial metals space?
Dave GLTA
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