"i haven't even read the announcement and I know someone is buying"
I recall you have said you don't do fundamentals because its a complete waste of time. That's fair enough because you are a pure chartist and fundamentals are irrelevant to the process. That said, if you are using an annoucement as confirmation of your strategy it might pay to read it first. The headline says 'change of directors interest'. One must read the details to know whether that is a purchase, or sale, or transaction by a related entity, or a vesting of in-the-money performance rights. Not every change in shareholders interest is an implicit endorsement of share price.
it is also worth noting that directors have been acquiring since the shares were double today's price. A bit of fundamental analysis suggests that director buying has been a poor indicator of price movement.
RRL Price at posting:
$1.96 Sentiment: None Disclosure: Not Held
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