Livent (LTHM)

Mar 2, 2021Trade Ideas

On February 26, we highlighted opportunity in Square Inc. (SQ).

We noted:

“After slipping from an overbought high of $283.19, it caught support at its 50-day moving average again. Each time it’s caught that average since August 2020, the stock has bounced. In our opinion, this could be a $350 stock this year, especially with fintech heating up as fast as it has. Investors can buy the SQ stock at current market prices with an initial target of $300, and, or buy to open the SQ March 19, 2021 230 calls at market.”

Today, the SQ stock is up to $255.45. We’d love to hear how you did with this idea.

As for new ideas, take a look at lithium stock, Livent (LTHM).

With the EV boom showing no signs of cooling off, coupled with lithium supply shortages, companies like this could cash in. After a slight pullback to double bottom support around $19, we believe the stock could retest resistance around $24, near-term.

One way to trade LTHM is by buying the stock at market. Or, you can buy to open the LTHM April 16, 2021 20 calls at market prices.

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