Alliance Mineral was a stock we shared back in early January when it was around 0.096. It has since then ran up a lot to close at 21 cents.
Alliance Mineral does lithium mining and lithium has been in demand from usage in handphone batteries to batteries in electric cars. Recently Alliance Mineral has been running due to the recent finding in their western australian mine which is rich in lithium and tantalum having a significant value in today’s market. With Lithium being in demand this is one stock we want to look at for mid term .
We have drawn a few support and resistance zone The first resistance being 22 cents as it crossed 0.205 then after we might see 25 cents. We might want to look to enter on pullback and these are the support levels that we are seeing: 0.185 and0.167. This stock has crossed 20 cents so now each move up is significantly bigger so do take note of your risk.