It was just 3 months ago when we wrote that the cobalt sector was a pressure cooker. We were, and still are, very bullish on cobalt in 2022. We even gave our top cobalt stock tip from our premium Momentum Investing research away, entirely for free. The price of cobalt went up 50% since then, and our top cobalt stock doubled in the same period. We are giving away top stock tips for free, but make no mistake this happens only once per year.
This is the cobalt price when we were saying “insanely bullish”, some 3 months ago:
This is the same cobalt price chart, today:
In an exclusive email to our free newsletter followers “[Must-Read] Graphite And Cobalt Starting To Heat Up, Will January Be THE Month” we wrote the following:
Cobalt Blue Holdings has everything to initiate momentum: the setup is there, the hidden reversal signs are there:
- The backtest of 0.34 was successful, it is a setup to move to the green area which is the breakout area.
- The yellow vertical line, a hidden reversal reading on the time axis of the chart, delivered 0.37 AUD as a crucial price point. It was successfully tested last week, it couldn’t be more precise and clear.
- The rising trendline (green) since August was respected with three (3) touches.
The daily has everything to finally clear 0.44 AUD. Once above 0.44 it will be go in no-time to 1.00-1.20 AUD.
The problem with the cobalt space is that there are hardly any pure play cobalt stocks out there. There are many companies that produce cobalt as a secondary activity. But we did swear after the Largo saga that we will never again invest in a stock that is hybrid, meaning multiple business activities with 2 or more leading indicators.
Cobalt Blue Holdings is the best you can get in terms of high risk / high reward / controlled risk.
Only a market crash can break (read: postpone) the inevitable price target that Cobalt Blue Holdings is moving towards which is 1 AUD at a bare minimum.
This was the Cobalt Blue chart three months ago:
This is the same cobalt stock chart today:
It is too late to enter cobalt now. Technically, it’s not too late, but there is no way you can have a guaranteed great entry price right now. This sector might consolidate for a few months and frustrate you, or it might continue to move higher, it’s way too difficult to time the cobalt market.
The perfect timing was 3 month ago. Our Momentum Investing followers received the Cobalt Blue stock tip as a strong buy, even in the free newsletter we tipped this stock. While it’s too late for the cobalt space to enter and hit a great entry price, it is not too late to enter some other green battery metals. Coming week, we will update our green battery metals stock tips, members of Momentum Investing will get exclusively our top tips and updates on the existing list of top performers.