RED SP momentum has slowed, with 33c a hover point waiting for impactful news.
Possible short term catalyst might be inclusion in the ASX200 (mentioned as likely possibility in recent company presentation).
If one strips out the volume surge created by the SLR share raid, then the volume remains modest IMHO and hence not yet definitive.
The bull case for RED depends on the bull case for gold being the dominant narrative.
If the current enthusiasm for (a continuing) strong POG wanes - if the A$POG drops below 3000, an "amber warning will flash" if it drops below 2800, the red-lights will light up the warning panel.
At least there'll be no more debilitating CR's .... the only CR that the market would likely support, is a clever definitive M&A deal ??
Short resistance 35c, Short Term support 30c remain to be confirmed in longer time frames IMHO.
RED SP momentum has slowed, with 33c a hover point waiting for...
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Last
42.5¢ |
Change
0.005(1.19%) |
Mkt cap ! $2.891B | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 43.5¢ | 41.5¢ | $11.42M | 26.92M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 222136 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 1437793 | 11 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |