SQM is a Chileen Lithium mining company and traded on the NYSE. Based on the news yesterday (Nationalization), SQM declined almost 20%.

SQM is a long listed mining company.

I checked the cycles and AGAIN they make a nice fitting incl 2024-Q3/Q4-LOW (see little RED CYCLES); just as many other Commodities. The Larger RED CYCLES could have marked an LT-TOP (2022-2023). This possible LT-TOP made me look even on a larger Timeframe for we can observe the PINK-CYCLE.

Nevertheless, I double checked and came up with the BLUE charted CYCLES which gives me more feeling with some sort of fundamentals as well my Long Term (LT) USD and EUR charts. Therefore (and if), still LIT could see a cycle LOW during 2024-Q3/Q4 and a CYCLE TOP into 2029 and possibly (or not) into 2032 (see also PINK-FIB).

Also this Nationalisation of LIT marks an Armstrong’ 10th-April turn and makes one wonder – IMO.

https://ir.sqm.com/English/home/default.aspx

PS: the pink cycle does not have a perfect match as Stockcharts does not allow longer timeframes.

IMO.DYODD

ADDED:

Same LT-chart. Observe 2 RED parallel lines which either form a Large Bear Flag or a Continuation Flag (CF) for which I choose the latter. Based on Next Red cycle low and the Continuation Flag … PO @ 20 for SQM; maybe will not go lower then 50 HOR.SUP But  if goes to 20 than that Low and if this CF is a HALFWAY PATTERN then SQM could possibly make another 12,375% RUN; that would be 123x the investment = USD 2,460-ish. That sounds absurd but not only did that once already but add to this both a coming Commodity BULL CYCLE and declining purchasing value of Fiat and then ‘suddenly’ it would not be that outrageous.

As for charting … some follow price … I like to predictive charting for which I use TIME (and CYCLES). I hope you appreciate my style! Have Nice Weekend.