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
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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.