What does Neometals Ltd do?
Neometals Ltd’s [ASX:NMT] main focus is becoming an integrated producer of lithium battery materials. We use lithium ion batteries every day, in our phones, laptops and many other electronic devices. The use of lithium ion batteries is expected to increase dramatically as larger batteries are put to use in electric cars.
That’s interesting, but what is the chart telling us?
What does the chart look like?
I find it helpful to bring up a chart. Here’s the daily chart of NMT:
This stock made quite a run in early April, on no news I might add. Since retracing from the high in mid-April the stock has continued to make a series of higher bottoms over the last couple of months.
What now for NMT shares?
Even though NMT is a little down on today’s trading, it’s a stock to keep an eye on. A break below the recent low, or conversely, a break over prior tops, will tell you in advance what the future holds for this company. Let’s wait and see.
You just need a little charting knowledge to know how to proceed. You can get that chart reading knowledge here. You remain at a substantial investment disadvantage without it.
Research Analyst, Cycles, Trends and Forecasts