A Materials Stock With Solid Fundamentals…
Here’s a snapshot of the fundamentals of a lithium stock that’s been on my radar recently:
Here’s some additional data on it via Chartmill:
Piotroski F-Score: 8 (on a scale of 0-9)
Profitability Rating: 8 (all Chartmill proprietary ratings are on a scale of 0-10)
Growth Rating: 8
Valuation Rating: 8
Health Rating: 9
In addition, there’ve been no insider sales this year.
…But A Beaten-Down Share Price
The stock is down nearly 40% since July, mainly because lithium prices have tumbled this year (since China is a major lithium buyer, prices for it are often quoted in CNY, or Renminbi per ton).
Why It Might Be Due For A Bounce
Its RSI (Relative Strength Index) is under 20 currently, indicating that the stock is oversold, and it has short interest of more than 15%. If its next earnings report is even a little better than expected, the stock might get a bounce as short sellers are forced to cover.
Details below.
Read the rest here.
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