Global X Battery Tech & Lithium ETF (ACDC) $153.66

The lithium sector has roared higher as the underlying battery metal more than doubled from its mid-2025 low. The combination of the increased rate of EV purchases and increasingly bullish estimates of surging demand for battery storage due to AI has propelled the ACDC  ETF up +120% from its 2025 low but we feel the Zimbabwe news could be the last piece of the puzzle in the short term to support the advance.

In the short-term, the ETF and sector “looks & feels” stretched, and in our opinion, much in need of some consolidation with a pullback towards $140, our preferred scenario, or around 10-15% – but we note MM believes such a move, if it unfolds, will be a buying opportunity into a thematic that’s regaining some major macro tailwinds..

• We can see the ACDC ETF trading in the $140-160 region over the coming weeks, consolidating recent strong gains.