PaulCruz

Oversold bounce on $PLS 1HR chart

ASX:PLS   PILBARA MINERALS LIMITED
Current sentiment:


Hard sell off from falling spot prices, unjustified IMO especially when PLS is selling at market prices, but it is what it is.

Goldman Sachs big net sellers, deutsche bank big buyers

High volume in the sell off from the highs

Signs of a reversal are possible:

Dragon fly doji showing on the hourly chart (forming into a bullish hammer)

Dragon fly doji on right on 200ema (past data shows support on 200ema)

Oversold RSI

Risks:

moderate - high volume sell off

Current sentiment on lithium plays, GXY, AJM, KDR are negative

Personally, great prices for a buy, but needs to hold and bounce from here.
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