On the topic of price action, there is only one consistent source of stock to buy and it is not being dumped on the market. For better or worse, 2023 shook out most of the people not invested for the long term leaving very few loosely held shares to buy. In these circumstances it does not take much additional buying to move the SP up.
It is worth keeping in mind that excluding the drama of 2023 the RAC SP was quite robust through the biotech ‘nuclear winter’ of 2022/23 and stayed above $2 well into 2023. Just regression to the mean could see the SP rise especially as investor optimism returns to the biotech sector.
Having said all this I have no crystal ball on where the SP is going in the short term.
RAC - Charts & Price Action, page-20332
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Last
$1.89 |
Change
0.120(6.80%) |
Mkt cap ! $321.0M | |||
| Open | High | Low | Value | Volume |
| $1.78 | $1.93 | $1.78 | $563.4K | 302.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 108 | $1.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.90 | 4926 | 1 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |