RAC - Charts & Price Action, page-16720

I agree with your comment that … “for those that sold in the $1.10 - $1.20 (or even above) range to re-enter after its back at $1.60 so actually worse off compared to holding”, however this is hindsight Bias. Everyone makes their own calls based on their own gut feel and crystal ball. I think it was actually a very valid call to make, as if sp did breach $1 then all support is off the table they could have easily pick up their shares back cheaply.

We all (definitely I) have made this mistake in investing.

The smarter thing to do, if you realised you made a mistake is to correct course asap. Higher IQ and EQ investors can even make a 180 degree turn, and don’t let their past mistake hold them back.

The worst thing to do is let anchoring bias, hold you off buying back RAC until you get cheaper shares then where you sold. As this price may never come back. Imagine if you sold at $1.40, $1.30 or $1.20, for an attempted sneaky trade to try and buy back cheaper. And now can’t bring yourself to buyback at $1.60 even though you still have strong conviction on RAC.