Pilbara Minerals (PLS) is a $12 billion lithium miner based in Western Australia.
“It is regarded as the top pick in the sector due to its low costs and high levels of cash,” Michael said.
“The share price has taken a hit in the past 12 months due to falling lithium prices.
“However, with lithium prices now settling down, we are also seeing signs that the share price is putting in a low now.
“Price action in PLS is once again starting to look encouraging.
“After the large volume rally in early December, the shares headed sideways to break the downtrend that had been in place since August.
“We then saw some good buying of the dips, which allowed PLS to form some higher lows.
“It is breaking out of this current base with a push above the major resistance level of $4.
“This means that we are likely seeing the start of a new uptrend in PLS,” Michael said.
Pilbara Minerals (PLS)
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