Rock Tech Lithium stock soars after chairman’s bold CAD 225K investment
Shares in Rock Tech Lithium have surged since the start of the year. The German-Canadian tech company has seen its stock price climb well above key moving averages. This upward trend follows a major personal investment by the company’s own chairman. Dirk Harbecke, chairman of Rock Tech Lithium’s board, recently bought 250,000 common shares at CAD 0.90 each. His CAD 225,000 purchase increased his personal stake by about 2.8%. The move signals strong confidence in the company’s short-term prospects and long-term plans. The firm has also improved its financial outlook. Capital expenditures for its lithium project have been cut by an estimated €50 million. Operating costs are now projected to be 23% lower than before. These adjustments come as Rock Tech prepares to build Brandenburg’s first battery-grade lithium hydroxide plant in Guben. The tech news holds strategic importance, classified under the European Critical Raw Materials Act. Despite occasional dips in lithium prices, the company has remained relatively stable. However, analysts warn that the stock may be overheating. The Relative Strength Index (RSI) currently indicates overbought conditions, and the share price sits above its 50-, 100-, and 200-day moving averages. While the average price target stands at CAD 2.20, suggesting room for growth, the road ahead is expected to be volatile. Rock Tech Lithium’s recent gains reflect both internal confidence and market momentum. The chairman’s investment and cost reductions strengthen the company’s position as it moves forward with its lithium plant. Yet, with technical indicators pointing to overbought conditions, investors may see sharp price swings in the coming months.
