I'm no chartist or technical analyst specialist but as @Veritas2000 said, they can definitely be useful. For the past six months you can see in the RRL chart there has been strong bearish sentiment which has placed a lot of downward pressure on the sp from $3 to where it is today.
Most of the goldies have been smacked around a bit lately, even those with relatively strong balance sheets. However a chart as bearish as this suggests that there are one or more aspects of the business that investors are questioning. This could be (examples only) due to doubts about a business being able to sustain it's current cashflows into the future, longevity of it's assets, rising costs, falling dividends or a questionable acquisition/transaction.
If I saw a chart such as this but knew nothing about the respective company, I'd definitely start by digging a little deeper to try and understand the situation a little more.
I'm not brave enough to call the bottom here, I'll leave that up to others :-/
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Last
$1.75 |
Change
0.010(0.58%) |
Mkt cap ! $1.318B |
Open | High | Low | Value | Volume |
$1.76 | $1.79 | $1.75 | $5.731M | 3.248M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 31342 | $1.75 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.76 | 2849 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19360 | 1.745 |
2 | 59540 | 1.740 |
2 | 30867 | 1.735 |
1 | 4578 | 1.730 |
1 | 4578 | 1.725 |
Price($) | Vol. | No. |
---|---|---|
1.755 | 2849 | 1 |
1.760 | 43734 | 5 |
1.765 | 101445 | 5 |
1.770 | 42228 | 3 |
1.775 | 4578 | 1 |
Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
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RRL (ASX) Chart |