Heya rego. Totally agree with you. In part this is driven by share holder's becoming a bit disgruntled. LT though, we should consider the bigger picture than only what's happening today. My daily chart is below and supports what you've said with 225 being lower support.
I wish I could find a chart way of disagreeing with you but every time frame I've looked at says the same. Main driver is falling volume reflecting decreasing interest in RNU ATM.
On a monthly basis, it looks same same with low volume being consistent. Unfortunately stoch and rsi is in no mans land and I read as it will probably go downward - supporting the 225 theory. However, we are still in early days of February, allot could happen this month which could change how this looks right now.
Unrealistically, holders (me too) have been waiting for the big moment which so far has been delayed and leaves the feeling that nothing is coming out of the company and no timeframes to match our expectations to. Perhaps our expectations were just too high at this stage of RNU's journey. Fundamentally, RNU is a good prospect and will eventually grow. But it needs catalysts to push the SP and that needs management byt the company.
In simple terms those catalysts include customers signing binding agreements and a mine and production plant being built. In retrospect, PEPR was seen as the big kick. It's only a part it in reality though.
DC and the company need to manage its SH expectations better and let SH know definitively where we're going along with timeframes. We all know where we could be. Now that we have PEPR, approvals and a location, it's not the time for the company to rest.
Worst case is LT and the big investors that bought into RNU capitulate to the apparent lack of progress which would see months of gains and sentiment towards RNU wiped.
Take care all.
Add to My Watchlist
What is My Watchlist?
