Canonman. A ProRealtime plot of accumulation/distribution shows RED has been in distribution since mid Sept 2019 and shows very strong distribution since the Saracen sale. WIlliams %R now shows "very oversold." I guess distribution implies driven by sales pressure, but I don't know how this is determined since every transaction requires a buyer and a seller. Given Gazzajohn's recent timeline post I can't understand why there should be so much sales pressure. More here than response to production and margin?
Looking forward to the RED presentation next Wed at the RIU Conf. May give the sp a boost.
RED Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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