RAC - Charts & Price Action, page-17497

Well, these sorts of posts make me as popular as rats under the house but I'm on record for saying that if the SP closes below the bollie median line which it did today then it's on the way to the lower bollie band which currently sits at .74.

Now before you all throw spears Let me explain my reasons and it's purely technical as you all know that I don't even know what RAC does so it's nothing against the company. (something about baby formula?).
Generally, using bollie bands, every time an SP wicks above the top, if the median line can't support the retrace then it tags the lower bollie. The below chart demonstrates two recent events showing what I mean in red. Also to back this theory up as good chartists will will always offer confirming indicators to enhance their probabilities, look at the angle MACD is attacking towards the negative.



Now I'm going to sound like a complete shite hear but also from the above chart you can see that RAC is continuously printing lower highs (when lining up those red peaks) and therefore lower lows.

Here's the same chart but zoomed into the important zone (I say that for those visually challenged like me).



Guys I hope my thoughts are completely wrong and it's not hard to be in this market.

Hi @Shakesy . IMO the short position is so minimal that it has nill effect on the current price action. Currently it's under 6000 shares. $5206 worth.
They ain't doin nuthin.



All the best guys.