an update on RNU charts: we're still in the trend described previously but share price has hit the previously reported support level of 6.6.
Weekly:
Zoomed daily:
the important 15 minute interval for traders:
Daily zoomed in
15minute zoomed in
The weekly chart shows an increase in net selling over previous week even though there's still one trading day remaining this week. Stochastic RSI is oversold and that indicator has just about bottomed out - it can't go much further down.
The daily chart also shows an increase in net selling of 1.48m vs 388k for previous day. Stochastics show further falls are very possible.
The 15minute chart shows the bulk of yesterdays net selling occurred in the last 1/2 hour of the day which I highlight as the same pattern played out the previous day. It's as if there's some resignation at the end of the day the trend hasn't turned. However, the 15 minute stochastic oscillator is showing a little hope.
The charts indicate a possible short term bouncing SP between 6.9 and 6.6. 6.9 is the current downtrend support and 6.6 is the long term support level. However, from my perspective 5.6/5.4 looks likely. 5.6/5.4 falls within the range that RNU had its highest ever weekly volume of 498.8m shares in the week starting 22/Feb/2021. That week opening price was 4.4 with a high of 7.1. These numbers are significant (for T.A) as those investors still remaining from that period and still holding large will become desperate to either protect their initial investment or top up big, IE, crunch time is upon RNU's SP.
I'm only trying to describe things as I see them. GLTA
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