GXY 0.00% $5.28 galaxy resources limited

My mistake - I was looking at the chart at the $1.03 resistance...

  1. 5,792 Posts.
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    My mistake - I was looking at the chart at the $1.03 resistance level 6 years ago. There was an extended period 3-6 years ago well below current levels.

    60 million shares aren't going to be purchased now. I'm not quite sure what your point is. I heard the same argument at $2 and $3 that there were X number of shares shorted and that they should be nervous and that they are risking it by shorting at those levels and that the share price is wound up like a spring. It's fair to say that all those calls by holders were way off. Holders have no doubt been sucking weak hands into buying at levels well above the current share price based on their own agenda of trying to get the share price to go higher.

    I predicted an oversupply in 2019 early last year, but even I didn't predict lithium prices to tank this rapidly and for producers to be throttling output this early. Wait until more producers come online and $600 for spod with be a fantasy.
 
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