Australias Galan Lithium is back to support. Will it bounce ?

3 thg 2, 2022

Galan has had a great run over the last 12 months up almost 200% in price - including a 25% drop from its recent highs with the overall market pullback.

It is at the bottom of one of its trading ranges and a bounce could possibly see a 15% run before it hits resistance again. Would like to see its RSI turn around and point up to get better confirmation and will need some support from the overall market - especially the TESLA share price to get some strength back into it. I think Lithium demand will be here to stay though for quite some time though which will always help stocks like these longer term hopefully. If it breaks and closes below this level and puts in some new lower lows, then buyer beware. Best to wait for confirmation of an uptrend.

Worth a watch.

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Speaking of watching, here are some videos I have made with tips and tricks in them on how to use TradingView where you might find something useful.

tradingview.com/education/search/zAngus/?sort=recent&video=yes