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Lithium X Energy Corp. – Watch breakout above 2.25 CAD

Lithium X Energy Corp. (TSX-V: #LIX / OTCQB:  #LIXXF) – a lithium exploration and development company – appears technically well positioned to benefit from the coming electric mobility boom.

On a monthly chart the stock market price is consolidating within a long term contracting triangle that follows an initial parabolic rise from a low at 0.35 CAD up to a top at 2.85 CAD.

Although there is a technical possibility for the price to make a lower leg towards or even below the lower triangle area I am looking for the price to break above the descending triangle top boundary line (ca. 2.25 CAD) with rising volumes for the next brisk uptrend.

Disclosure: I am long #LIX @ 1.895 CAD.

3 Comments

  1. Hi, Just found your site.  I notice that a couple days ago LIXXF dropped and is now trying to stay above 1.50 (USD).  What would you look for now with this new pattern that has emerged?  Thanx
    Reply
    1. Mark, nothing has changed, price still compressed in pennant pattern.

      $LIX : Critical breakout level CAD 1.25:

      Could drop to CAD 1.5 that scenario would still be the same.

       

      Reply
  2. $LIXXF : critical breakout level USD 1.9

    Could drop to USD 1 that scenario would remain unchanged.

    Reply

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