What’s Happening to the Share Price of Pilbara Minerals Ltd?

What does Pilbara Minerals Ltd do?

Pilbara Minerals Ltd [ASX:PLS] is a minerals exploration and mining company, operating, as the name suggests, in the Pilbara region of Western Australia. Its main focus is the Tabba Tabba Tantalum project

Tantalum is a mineral increasingly important in the 21st Century, because it plays a large role in making personal electronic devices smaller, and it naturally fights corrosion. Its main use is in making capacitors and high power resistors.

It is also used to make alloys to increase strength, ductility and to resist corrosion. The metal is also used in dental and surgical instruments and implants, as it causes no immune response.

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 monthly chart of PLS.

Pilbara Minerals

Source: STEX

What now for PLS shares?

Well it had news today, reporting that recent drilling has confirmed deposit extensions. We could perhaps now expect a retracement of sorts from here. Let’s wait and see.
If you can read a chart, you’ll know it was telling you that some news was coming. You can get that chart reading knowledge here. You remain at a substantial investment disadvantage without it.

Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

Join Markets and Money on Google+

Terence Duffy is an analyst and chartist, specialising in researching economic trends and cycles.  His primary focus is housing and land affordability. But you can also depend on him to offer his unique analysis of stock market charts. As Terence will show you, the charts often forecast, well in advance, the good or bad news to come — which he details in Cycles, Trends and Forecasts.

Leave a Reply

Your email address will not be published. Required fields are marked *

Markets & Money