Albermale: It's About To Be $LIT

Albermale, the lithium miner that is attempting to satiate humans demand for lithium and other rare earth minerals that are necessary in the production process of batteries that power everything from smart phones to Tesla's, looks to have bottomed out. Shares have broken out of a two year down trend, and are beginning to creep up towards former support, now resistance: $92, representing +21% upside from current levels. If shares decisively break above $92, the next price target is its former all time high, $137, which represents 80% upside from current levels. This level also happens to be the 423.6% fibonacci extension derived from the stock's 2007 high and 2009 low, which makes it a high conviction price target. 


Longer term, shares are in a well defined rising channel that is 25 years old. 


The astronomical rise of Tesla in recent weeks adds conviction to this trade. A thriving Tesla that speeds up the global adoption of battery storage and electric vehicles is a boon for Albermale and the lithium industry as a whole.

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