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.