RLT

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95.0¢ renergen limited

Renergen General Discussion, page-985

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Fat Harrys Cat

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15/12/22

07:50

Post #: 65317901
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Originally posted by kansaskiwi: ↑

Yeah@Bgas it seems that way. As I said in a post a while ago, I don't think we will be going anywhere for sometime. Not being negative, just realistic in my view.

In the 12 month chart below you can see we have been in a downward channel for about 8 months.

This in my view has been due to:
1. Macro (bear) market
2. Slower than expected progress making the plant operational
3. Trend/TA making us unattractive for new investors - point 1 being the 200MA crossing the 50MA
4. The operational issue and communications which should have been handled better
5. The recent CR which again should have been handled better

We are now trapped in what I expect will be a sideways channel (grey shaded rectangle above point 2). My reasoning is pretty simple. Many of the CR participants are likely to flip shares, so as soon as a ~10% gain is on offer they will sell through it. The SP may be allowed to run for brief periods to draw buyers up and then will be sold into. It is just a sad likelihood in a bear market.I would love to be wrong and have the CR participants hold tight, but I don't see it. I also expect that people wanting to buy know that the CR was at $2.14 and are bargain hunting around this range - which makes good trading sense.

What we really need is a series of positive announcements to wash through any CR flippers, and reset TA. Helium a good start, multiple funding arrangements getting locked in for phase 2 another. I really hope here we can secure a cornerstone equity investor or two, possibly US listing will facilitate this.

2022 has been a poor year (or eight months at least) for RLT share price, but the company has made progress, albeit not what I (and I expect others) would have liked. Let's hope we turn a corner in 2023 with phase 1 production in full swing and commencement of phase 2.

Just my views.

Cheers
KK

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Excellent summary of the situation KK.
I wish to hell I’d sold out back in April when it turned down. Kept thinking it must turn up as the plant got closer to production. Wrong!
Looks like SP recovery will be a long process.

RLT Price at posting: $2.19 Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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(20min delay)
Last 95.0¢		Change 0.015(1.60%)		Mkt cap ! $28.80M

Open	High	Low	Value	Volume
94.0¢	95.0¢	92.0¢	$7.524K	8.117K

Buyers (Bids)

No.	Vol.	Price($)
1	2000	86.0¢

Sellers (Offers)

Price($)	Vol.	No.
97.0¢	70710	3

View Market Depth

No.	Vol.	Price($)
1	2000	0.860
2	6800	0.750
1	15000	0.730
1	1612	0.620
0	0	0.000

Price($)	Vol.	No.
0.970	2000	1
1.000	7139	1
1.005	1769	1
1.010	2000	1
1.050	52490	3

Last trade - 16.10pm 06/09/2024 (20 minute delay)

RLT (ASX) Chart

Renergen General Discussion, page-985

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Renergen General Discussion, page-985

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