Current set up on RLT chart has been quite negative so was hesitant to post but there are some signs that we may be close to a reversal so thought I'd throw this out there.
The RSI is currently the most oversold its been this year. Even more oversold than when we saw the big jump at end of Jan. You can also see that the Stochastic Oscillator was also oversold and crossing over when this happened which was the first sign of the run a few days prior to jump (hence why I'm posting now).
Current set up on the leading chart REN is actually more negative than positive but it's showing signs of a SIGNIFICANT move this week (hopefully positive but I don't think we'll have long to find out).
If yesterday's low was the bottom then I'm expecting a decent run which will eclipse the ATH of $2.99.
I see that Bluegem Research released an updated analysis last night with price targets (converted to AUD) between $4.16-$4.90.
This fits with my own TA targets of $3.65-$4.90 - the reason I've kept this so wide is I believe there will be some volatility coming up in the markets so we may not got a smooth run. Even so, if RLT is sitting on the resource we all think then it will be hard to subdue a heavy rerate...
Obviously there may some tax selling today and tomorrow which may cause further headwinds and we will want to see a bottom confirmed before getting too excited but there are some signs of life atm so I wouldn't be writing this sleeping giant off just yet...
GLTAH
DYOR
RLT CHART, page-89
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Last
91.5¢ |
Change
0.030(3.39%) |
Mkt cap ! $27.74M | |||
| Open | High | Low | Value | Volume |
| 89.5¢ | 92.5¢ | 89.5¢ | $5.652K | 6.166K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1369 | 91.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 99.0¢ | 1578 | 1 |
View Market Depth
| Last trade - 14.30pm 14/10/2024 (20 minute delay) ? |
| RLT (ASX) Chart |