The stock of American Lithium Corp (CVE:LI) reached all time low today, Sep, 13 and still has $0.40 target or 12.00% below today’s $0.46 share price. This indicates more downside for the $20.53M company. This technical setup was reported by Barchart.com. If the $0.40 PT is reached, the company will be worth $2.46M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 435,622 shares traded hands or 67.72% up from the average. American Lithium Corp (CVE:LI) has risen 6.00% since August 14, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
American Lithium Corp., formerly Menika Mining Ltd., is an exploration-stage company. The company has a market cap of $20.53 million. The Firm is engaged in the acquisition, exploration and development of lithium deposits throughout the Americas. It has a 5.11 P/E ratio. It holds options to acquire Nevada lithium brine claims totaling over 20,790 acres, including over 18,550 acres in Fish Lake Valley, Esmeralda County, and the 2,240-acre San Emidio Project in Washoe County.
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