Hope every one has had a nice Christmas and enjoy the up and coming New Year.
Have been a little quiet of late on this thread as I have been watching another of my low SOI Stocks which has been in a long consolidation as well since march this year. Turn over today was 20M only 118M on issue.
You might ask what has this to do with RAC?
A number of factors have come into play and the Ducks all lined up and the market woke up that a little mining company had slipped under the radar of most big investors.
It was News driven
Short term MACD went green at the start of December Long term MACD went green about 21 December
21st it closed out side the Bollinger band
22nd it paused still outside the Bollinger band
23rd surged ahead still outside the Bollinger band
24th consolidated with a little rise still outside the Bollinger band
25th another smaller surge still outside the Bollinger band
29th rocket launch left the Bollinger band behind with large gap up.
1. Note the time taken between the first news release on 13th and the first close outside the Bollinger band.
2. Note the time taken between the second news release on 17th and the first close outside the Bollinger band.
3. Note 29th market awake and boom the Rocket launch.
Now let's look at RAC
RAC news this month
21/12/2021 Race raises $29.7 million in oversubscribed SPP
10/12/2021 Uni of Newcastle Heart Protection Collaboration Extended
The question you need to ask yourself.
1.Is one closure outside the Bollinger band enough?
2. Is this News Driven?
3.Has the selling stopped?
4. Is the Market waking up?
What I look for is a large increase in volume and consolidation outside the Bollinger band over a number of days with both short and long term MACD green.
I will leave you with this little gem
“It takes remarkable patience to hold on to a stock in a company that excites you, but which everybody else seems to ignore. You begin to think everybody else is right and you are wrong. But where the fundamentals are promising, patience is often rewarded"
Will be watching RAC over the next few days for signs of a consolidation of price outside the Bollinger bands,
all the best
FireflyOne
The writer's opinions are his own and do not constitute financial advice in any ways.Nothing here constitutes an investment recommendation nor should anything written here or published by myself be relied upon for any investment activities.I strongly recommend that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
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