Alpha Recommendation: Take Profit (+18%) Liontown Resources Ltd (LTR)
Date: 21/05/2024
*** GENERAL AVICE ONLY***
Liontown Resources (LTR) operates as a Battery Minerals producer, targeting the Electric Vehicle and Energy Storage industries in Western Australia. Listed as ASX: LTR, the company holds an ASX100 status and concentrates on lithium exploration, aiming for global significance in battery minerals supply. Liontown controls two major lithium deposits: Kathleen Valley Lithium Project and Buldania Lithium Project. The company also explores the Toolebuc Vanadium Project in Queensland through a farm-in agreement with Olympio Resources Limited.
*** Rationale ***
LTR has risen 18% since entering at $1.25 on 30th April 2024. It has failed to break the previous highs around $1.52, which is where it broke the upper bollinger on the 4hr chart. So time to take profits on this short term trade
Alpha Recommendation – Take Profit/Sell Liontown LTR – $1.475 or higher
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.