Lithium Stocks Could Be Moving Again
Lithium producers have outperformed this year thanks to the widening use of electric vehicles. With the metal’s price continuing to advance, today’s charts highlight several names in the group. We’ll start with Sociedad Quimica y Minera.
The Chilean stock has consolidated since the spring while making incrementally higher lows. A falling trendline formed along the highs of September and October, which SQM just broke. Also notice how prices fought back above the 50-day simple moving average (SMA).
Similar patterns have occurred in other names. Albemarle, for example, made a higher low in October versus July. It dropped on November 3 after revenue missed, but clawed back to close in the green. ALB proceeded to break its own 50-day SMA and trendline before hitting a new record high on Tuesday:
NYSE:LTHM is also pushing against a trendline:
Lithium Americas and 
Piedmont Lithium, which have smaller market caps, have also made higher lows and are fighting trendlines. However they remain further from their all-time highs.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The Chilean stock has consolidated since the spring while making incrementally higher lows. A falling trendline formed along the highs of September and October, which SQM just broke. Also notice how prices fought back above the 50-day simple moving average (SMA).
Similar patterns have occurred in other names. Albemarle, for example, made a higher low in October versus July. It dropped on November 3 after revenue missed, but clawed back to close in the green. ALB proceeded to break its own 50-day SMA and trendline before hitting a new record high on Tuesday:
NYSE:LTHM is also pushing against a trendline:
Lithium Americas and Piedmont Lithium, which have smaller market caps, have also made higher lows and are fighting trendlines. However they remain further from their all-time highs.TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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