Let’s Take a Look at Piedmont Lithium Limited (PLL) Stock

Piedmont Lithium Limited (PLL) share price plummeted -8.11% with the closing price of $30.14 on Friday. Piedmont Lithium Limited stock has an exchanging volume of 0.95 million shares, which is low, contrasted with its 3-months average volume of 2.05M shares. Its market capitalization has now reached to $348.21M and analysts have a consensus target price of $30.50 in the 12-month period.

Piedmont Lithium Limited (PLL) on September 28, 2020 announced that it has entered into a binding agreement with Tesla, Inc. (“Tesla”) for the supply of spodumene concentrate (“SC6”) from Piedmont’s North Carolina deposit to Tesla.

The Agreement is for an initial five-year term on a fixed-price binding purchase commitment from the delivery of first product, and may be extended by mutual agreement for a second five-year term. The Agreement covers a fixed commitment representing approximately one-third of Piedmont’s planned SC6 production of 160,000 tonnes per annum for the initial five-year term as well as an additional quantity to be delivered at Tesla’s option. The SC6 sales are expected to generate between 10-20% of Piedmont’s total revenues from its proposed integrated mine-to-hydroxide project for the initial five-year term. The Agreement is conditional upon Tesla and Piedmont agreeing to a start date for spodumene concentrate deliveries between July 2022 and July 2023 based on the development schedules of both parties.

Piedmont confirms that all material assumptions underpinning the results of its previously announced integrated scoping study (refer ASX announcement dated May 26, 2020) continue to apply and have not materially changed, including Benchmark Mineral Intelligence pricing and tonnes per annum assumptions.

PLL Past Trading Activity

The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, PLL price has dropped by -22.94%. In the course of past three months sees the stock go up around 347.85%, while it has gain 479.62% over the past six months and 264.87% since the start of the year.

PLL Price Performance

Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on Piedmont Lithium Limited has seen its stock exchanging -44.70% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +419.66% above its three-month low. A more extensive look sees PLL exchanging -44.70% beneath its 52-week high and 653.50% above from its 52-week low price.

PLL Instability & Beta Factor

The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 10.50%, while it has a month to month instability of 20.46%. The company has an ATR (Average True Range) of 5.14.

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