I would expect sentiment to be somewhat bearish at the conclusion of a correction. So current vibe on these threads fits nicely with the chart.
Both price and time are at a nice junction for a major low, being 38.2% price retracement and 61.8% time retracement.
On the daily chart, we are yet to see a new low on the RSI, so there is bullish momentum divergence in place, but we will need to see a reversal ASAP for this to hold.
For me, I want so see a close back above $2.92 to suggest a low is in place. Longer-term, would need to see a weekly close back above the $3.06 - $3.14 range to be out of the woods.
RAC - Charts & Price Action, page-10888
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Last
$1.56 |
Change
-0.015(0.95%) |
Mkt cap ! $265.8M | |||
| Open | High | Low | Value | Volume |
| $1.61 | $1.63 | $1.56 | $160.1K | 100.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 222 | $1.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 500 | 1 |
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| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| RAC (ASX) Chart |