First my disclaimer...I don't hold this stock, to be honest I don't know what they do, how they do it or why they do it...
Anyway here it is with a simple commentary...
It appears recent price action has been confined to a tight trading range between 21.5-25.5c confirmed by the tight Bollinger Bands over the last 6 weeks or so...there is a fairly strong resistance holding at 25c...until today there was fairly strong support at the 50 day moving average (see light blue line)...today that support was at 23.5c which was broken with the close at 23c...price is sitting right on the lower Bollinger Band...price has fallen below the shortest moving averages (see dark blue & yellow lines) that cross to the downside happened at 24c...I can't see any gaps that need to be filled...todays volume was pretty close to the 9 day average (see yellow line on the volume)...both stochastic & MACD are trending down...OBV is also slightly treading lower...
So even though a few indicators have broken to the downside, the stock can still be considered as confined within a tight sideways trading range...I would wait until there are a few more trading days next week before confirming if the stock is entering a new downtrend...it seems the stock has a habit of making a new low and then bouncing back
I hope that adds something of value
All the best to holders
RVR Price at posting:
23.0¢ Sentiment: Hold Disclosure: Not Held
