SuperT - you are right and everyone loves the "good doctor". Fair enough. But he's aiming for a "one way valve" stock which contradicts the definition of a trading stock ... I've been very lucky to be able to trade RAC along strict Elliot Wave theory right up until yesterday when it should have recoiled back to 60c perfectly (previous strong resistance) and started a new phase.
However the implied FA in yesterdays announcement outweighed any TA so we get this extended leg five, "to the moon leg" now.
I wonder what happens next ... now the stock is a Meth-addict stock always on a high needing the Wombat-DrT combo-therapy treatment to keep it pumping ahead of trials.
It's good for shareholders while the going is good ... becomes a problem if there's a bump in the road.
Like most things the SP is likely to run ahead of itself. A2M and a couple others are significant here ... the SP gets to a plateau then drifts sideways and down for a bit - that's the trading opportunity.
So I wonder what that market cap is ... 300m ??? $2.50 ?
Ann: A$3m strategic investment from prominent biotech investors, page-128
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Last
$1.23 |
Change
-0.005(0.40%) |
Mkt cap ! $204.3M | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.25 | $1.21 | $120.5K | 97.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 991 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 2409 | 1 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
$1.24 |
Change
-0.005 ( 0.40 %) |
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| Open | High | Low | Volume | ||
| $1.24 | $1.25 | $1.21 | 17303 | ||
| Last updated 15.51pm 02/05/2024 ? | |||||
| RAC (ASX) Chart |