Buyers ready to step back in to the action and continue the trend higher

Potential Buy Entry Alert PLS

 

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $1.72 Billion Market Cap, VWAP 1.00, ASX Ranking 177, 4 Week Av Turnover $6,819,551.

Company Overview : Pilbara Minerals Limited (PLS) is an emerging lithium and tantalum producer focused on the development of Pilgangoora Lithium-Tantalum Project, located approximately 120kms from Port Hedland in the Pilbara region of Western Australia. The principal activities of the Company during the year were the exploration and development of mineral resources, being the Pilgangoora Project. The size, quality and anticipated low operating cost base of the Pilgangoora Project also provides the Company with an exceptional opportunity to pursue growth opportunities in downstream lithium markets. As part of its fast-track development program at Pilgangoora, Pilbara Minerals is on track to commence production and shipments in Q2 of 2018.

 

PLS – Pilbara Minerals Limited

PLS is on the march higher as we see price retest the previous breakout area around 1.00. We are now watching the action for buyers to continue to step in around 1.00 and build a higher low for the buy entry setup.

 

Stock Code : PLS – Pilbara Minerals Limited

Company Website : www.pilbaraminerals.com.au

Current Price : 1.005

Status : On watch for a buy entry setup