GLOBAL BATTERY METALS urgent update...

originally published Thursday, February 09, 2023

Printable Version

All Base Metal & Mineral Stocks

We have a nice 50% or so profit in Global Battery Metals garnered in less than a month. Ordinarily we would probably stay long, but the stocks is now overbought and showing signs that it could react back quite hard soon. On the latest 3-month chart below we can see persistent heavy volume in recent days as it has become more overbought on its MACD indicator, yet its Accumulation line has dropped quite hard, which is a negative. Also, a rather toppy looking “spinning top” candle appeared on the chart yesterday. Chart shown below will be annotated later.

It is therefore considered best to TAKE PROFITS AS SOON AS POSSIBLE and await developments. We can always buy it back later if it does react back or consolidates in a satisfactory manner. If it continues higher, we won’t worry because “There’s always another train leaving the station”, speaking of which, a good destination for the liberated funds is Perpetua Resources, subject of an article a little earlier this morning.

Global Battery Metals website

Global Battery Metals, GBML.V, REZZF on OTC, closed at C$0.22, $0.162 on 8th February 23.

Posted at 9.23 am EST on 9th February 23.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment or securities advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market technical analyst, Clive Maund is not a Registered Investment Advisor or Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.