Long Position on SGML @ $31.50 on 1/19/2023 (Momentum)

Sigma Lithium Corporation (SGML) is a Canadian company that engages in the exploration and development of lithium deposits in Brazil. The stock was featured earlier this month with success. 

It holds 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 27 mineral rights covering an area of approximately 191 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil. 

Shares are in the process of breaking out of their bullish "cup and handle". Note the 50-day moving average.

Entry Point: $31.50

Stop Loss: $30.00

Trading Range: $8.39 to 39.93

Target Price: $34.60

Updates

1/30/2023 3:38:18 PM

SGML hit our stop loss. Closed at $29.90

Position closed on 1/30/2023 at price of $29.90 with a -5.08% loss in 11 days.

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