originally published Wednesday, August 23, 2023

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Lithium Stocks Lithium Stocks

Volt Lithium has suddenly broken higher on huge volume today and the fact that there does not appear to be any news driving this breakout makes it all the more bullish. It has been kept under observation for the past week or two and I was a bit hesitant because there was some risk of it breaking lower, but the huge volume driving this breakout dispels all doubt, especially as this move is occurring against the background of the Fed wading in once more to drive down yields and prop markets up, hence the drop in the dollar and the surge in Precious Metals.

On the latest 6-month chart we can see just how powerful today’s breakout out of the bullish Falling Wedge is as it has occurred on all-time record volume by far. We can also see that the 50-day moving average is still falling quite steeply not far above, and this coupled with a zone of quite strong resistance in approximately the C$0.24 – C$0.26 zone means that we shouldn’t be surprised if it takes a while to get through this, although the magnitude of volume on this breakout means that it shouldn’t have too much trouble doing so.

Volt Lithium is therefore rated a strong speculative buy for all timeframes. Volt has a unique fundamental story which there isn’t time to go into here.

Volt Lithium website

Volt Lithium Corp., VLT.V, VLTLF on OTC, trading at C$0.22, $0.156 ay 3.30 pm EDT on 23rd August 23.

Posted at 3.40 pm EDT on 23rd August 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.