Wednesday, November 16, 2016

Lithium Battery Sector: LIT ETF

As I wrote here, the clean energy sector is under pressure, I think mainly because of competition forces. Energy storage will be an integral part of cleaner economy. has a great post on the subject.

It is worth to put Lithium ETF (LIT) on the watchlist. It gives a great vertical exposure in the lithium battery sector. The technical picture is mixed. The monthly chart doesn't look great. Though we have a higher low (1), trendline break (2) and the retest of the previous high (3).

On shorter timeframe there is a consolidation range after a bull run. On the daily chart the lower highs are somewhat bothering, but there is a triple bottom. This is a nice setup for betting on the range breakout.

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