Our ALGO engine triggered a sell signal in Galaxy Resources into Friday’s ASX close at $3.57.
The “lower high” pattern is referenced to the January high near $4.50.
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Lithium stocks, in general, have seen downward pressure recently after the release of a research paper which estimated Lithium production would double by 2025.
From a technical perspective, we see scope for GXY shares to retrace back to the $2.80 level.
Galaxy Resources
