Anyone who wanted RRL shares has been able to pick them up below $2.70 for weeks now, plus various parties (the underwriters particularly) have a lot of stock they probably don't want to hold long term so are likely to start trickling it into the market for a while, that's the overhang. There's also general uncertainty so a few people selling out because RRL is no longer what it was.
On that basis you have a bunch of people looking to unload (including the underwriters) with no one in any particular hurry to buy (simply because they already have their fill). Personally I quite like these situations because this period can lead to a temporary price depression.
I recall a similar thing happened with MTS around 12 months ago (temporarily drifting below the raising price) and I took the opportunity near the lows. I even think the raising price of $2.70 was the same or similar. I'm hoping for a repeat here but I'm less confident with this one, at least until we start seeing some positive consolidated production and cash flow reports.![]()
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Last
$1.92 |
Change
0.000(0.00%) |
Mkt cap ! $1.450B |
Open | High | Low | Value | Volume |
$1.94 | $1.95 | $1.92 | $7.259M | 3.769M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 18072 | $1.92 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.93 | 34030 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 15390 | 1.920 |
4 | 48918 | 1.915 |
11 | 77039 | 1.910 |
4 | 33971 | 1.905 |
16 | 108526 | 1.900 |
Price($) | Vol. | No. |
---|---|---|
1.930 | 8192 | 2 |
1.935 | 5598 | 1 |
1.940 | 57613 | 3 |
1.945 | 103053 | 8 |
1.950 | 61841 | 8 |
Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
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RRL (ASX) Chart |