This daily chart demonstrates how the price going up without backup in form of a good volume. Therefore, it is loosing its momentum and it was stopped at the resistance level at 2.25, which was established a few days ago. Personally, I think the price will retreat to the 23.6% level or even maybe to the 38.20% level, and then it will continue its trend.
Nemaska Lithium is #2 stock in the S&P/TSX Global Base Metals Index. Patience will bring some good results.
Did you think it would drop this much and what would be a good entry point?
DmitriTrader
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@CopperMaiden, of course not. But you know, I stopped trading stocks from Canadian market as it's full of crap. As well, I concentrate on large cap companies mostly. Nemaska isn't one of them
CopperMaiden
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Right on! I have a feeling his may be a good long hold. @RussianSwingTrader,
DmitriTrader
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@CopperMaiden, Personally, I wouldn't touch it. Weekly and daily it has downtrend. It doesn't fit my trading style - just my $0.02