RAC - Charts & Price Action, page-10744

RAC SP has been holding pretty nicely today (so far) but very indecisive (low volume). It would certainly be nice to see upward momentum and get away from this stinky $2.80 level.

I believe the shareholders' consensus is that $2.80 SP is way below the true RAC value. This represent a nice opportunity to buy low, but the bulls have learned to lesson many times this year and will probably stay on the sidelines until there is a strong reversal signal.

My optimistic line of thinking is that we might have reached a stage where the last bits of desperate holders are exiting due to lack of patience/ lack of announcements as well as broader economics and geopolitics. Also the bot trading pattern that pushed the price lower seems to have stopped - for now.

On the FA side I believe we are not too far from getting some updates on programs (end January and then end Q1-22). Granted, pre-clinical results tend to have little effect on the SP, but personally, I'd like to think that encouraging interim results for anti-PD1 synergy could be a catalyst for a small rally.

So, possible formation of double bottom? Or else, continuation of the 1 year downward trend?