Classic support /resistance flip.
Every time the price went up to $1.70 resistance it was getting sold off (purple dots)
It broke through around 6th june and every time it came down to $1.70 it was bought up.(green dots)
whats happening now?
the people who bought at $1.70 put their stop losses just under $1.70.
Smart money takes the share price down to these stop losses and buys them all up(red rectangle.)
This is what known as a liquidity grab.
RAC - Charts & Price Action, page-21538
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Last
$1.63 |
Change
-0.060(3.55%) |
Mkt cap ! $269.2M | |||
| Open | High | Low | Value | Volume |
| $1.66 | $1.66 | $1.57 | $251.4K | 154.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7138 | $1.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.64 | 6201 | 3 |
View Market Depth
| Last trade - 13.14pm 04/10/2024 (20 minute delay) ? |
| RAC (ASX) Chart |