Price has been backing off, and is about to test the MA (50) at 0.166. The MA(50) is rising toward the MA(200), which is what you want to see.

Latest news on their Teledyne project https://www.juniorminingnetwork.com/junior-miner-news/press-releases/781-tsx-venture/lic/29568-lico-energy-metals-inc-plans-confirmation-drilling-at-the-teledyne-cobalt-project-cobalt-ontario.html

Depending on how you draw the your support and resistance lines you could interpret it as a bearish rising wedge (around 66% resolve to the downside and 33% to the upside). This is a hold for me at the moment. I like this company, and think they stand to benefit from the increasing prices of, and demand for, Cobalt/Lithium. I’m accepting of the fact that it could, worse case, briefly drop, as per the chart, but in terms of risk/reward, the upside potential is significant.

I would like to wait and see how price reacts at the MA(50), and if that fails, the orange support line, but a turn could occur soon.