If you will pardon my french, the arse has fallen out of it a little recently. Small comfort is the low volumes, and it is approaching full cash backing. Could talk about it being heavily oversold, but stocks can really take their time to turn, especially without a news catalyst. Haven't been watching like a hawk, but I think I've seen a bit of an increase in aggressive selling activity and the SP dropping a few pips probably reflects that.
Falling wedge is a reversal pattern, no pattern works 100% of the time of course. If it wants to reverse in the short term should see signs soon.
Yeah I reckon you are right, permit and access issues are the last things you want to pop up, and I bet it has ultimately shaken out a few more holders.
RDN Charts, page-40
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Last
2.4¢ |
Change
0.002(9.09%) |
Mkt cap ! $65.25M | |||
| Open | High | Low | Value | Volume |
| 2.3¢ | 2.4¢ | 2.3¢ | $161.8K | 6.915M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 119448 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 2379408 | 8 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| RDN (ASX) Chart |