There were no S&P 500 earnings reactions on Tuesday, but have you seen what's happening in the Lithium & Battery Tech ETF $LIT?
Lithium is the lifeblood of the clean energy transition. Currently, demand is surging due to the rise of electric vehicles, grid-scale storage, and next-generation battery technologies.
When Tesla $TSLA, with a market cap of over $1T, starts ripping higher like it has this month (up more than 20% in September), the entire ecosystem catches a bid. Tesla itself is only one component of LIT, but its sheer size and influence act as a spark for the rest of the group.
After years in a brutal bear market, lithium stocks are now turning the corner:
The Lithium & Battery Tech ETF is on the cusp of resolving a massive bearish-to-bullish reversal pattern. A breakout from here would mark the beginning of a brand-new bull market in this space - one that could last for years.
That means the best names inside this fund could be about to deliver life-changing returns.
One of the hottest growth stocks in the entire market, Amprius Technologies $AMPX is one of our favorites:
Amprius Technologies has grown sales by over 200% year-over-year while the stock has returned nearly +1,000%. Technically, the stock appears to be poised for further gains.
Fundamentally, the company is delivering breakthrough silicon-anode battery technology and has recently been rewarded with two of its strongest earnings reactions ever, each surging by 30% or more late last year and earlier this year.
This is the technical and fundamental leader in LIT, and one of the best pure plays on the next phase of battery innovation.
So long as AMPX holds above 9, the path of least resistance is higher for the foreseeable future.
Happy Federal Reserve Day to all who celebrate
-The Beat Team
P.S. All Star Charts Gold Rush recently dove into the Green Revolution, which includes the Lithium & Battery Tech ETF. The team also outlined their favorite trade ideas in the space.
