Technical outlook – With only a history path going back nearly four-years, Novonix Ltd (NVX) has given an impressive six-half month bullish performance from a trough (base) at $0.20 to a peak of $2.40 before pulling back to forge a term-term “base” at $0.80 to $1.00.
The leading indicators Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) pattern currently hold to a positive outlook that suggests prices may continue in the short-term to the upside from the proposed base.
If the technical aspects strengthen (as expected) may unleash the bulls to target the region of $1.36. Reassess from there.
Company Overview – NOVONIX Limited (NVX, formerly Graphitecorp Limited) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in 14 countries.
NVX also owns large and high-grade natural graphite deposit in an established mining province in Australia. Former Names: Graphitecorp Limited (GRA), 13/07/2017