Yeah..... except it's not accurate.
And here's why.
Check out the below 2 charts. Which one is CSL and which one is the ASX Bio sector XHJ?
Yes they are near identical as CSL is so large that it itself drives the entire BIO sector in Aus. Therefore it's not even worth looking at. But even if you did, the sector is trending nicely higher- against the trends of stocks such as RAC. In Aus, CSL "is" the Bio sector.
So, we need to look abroad at the more macro Bio sector for sentiment and momentum and as you can see, the last 4 sessions have been bullish and yet it's certainly not translating to Bio stocks including RAC unfortunately.
So yes, I love watching the BIO sector but it certainly isn't linked to small cap Bio's IMO.
Cheers
RAC - Charts & Price Action, page-15957
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Last
$1.94 |
Change
0.000(0.00%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.95 | $1.95 | $1.84 | $647.3K | 344.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3300 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.94 | 5654 | 2 |
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| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |