PLS is set to bounce strongly this morning, although it’s not out of the woods until Lithium can recover meaningfully—the first stage is simply recovering from its latest panic oversold state, which sounds like much of the market! We continue to like the fact that PLS is a relatively low-cost producer with cash on its balance sheet, but again, it needs lithium to recover. However, with technological developments like BYD superfast charging recently being announced, EV adoption looks set to enjoy another wave of buyers the big question is whether it will lift Li prices.
- We can see PLS rotating in the $1.20-$1.60 area over the coming weeks.
MM is cautiously bullish towards PLS
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