Nice to see volume being worked through at each price level = should see a more supported move going forward. Nice volume showing intent after the change of director notice was lodged, obviously a well received signal.
AGM tomorrow, may have some commentary that engages the market. Updates on any tenders / larger contract / partner discussions would obviously be welcomed.
Daily - short term setup
Price action back at the first resistance level of 1.2c. Needs to clear the placement price of 1.3c to allow for a larger move back into the high 1's in the short term. MACD tracking nicely above the 0 control line + RSI with room to move before we see any sign of overbought extension.
Weekly - medium term
Zooming out we can see the set up more pronounced with solid volume to support the move out of the basing. Highly encouraging to see the MACD move to print a positive cross = opens the door for more constructive price action over the medium term and now signals a change of trend from the sell off that started last October.
RKT Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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