Technicals looking very bad, particularly, after today's big candle down. Clear indication of market's action on poor fundamentals, including below...-1. - Gold going up from here is not much likely while retreating below $1500 ishighly possible. See GFC run and other such hype/bust before.
2. - AUD/USD becoming more and more unfavourable, as RBA has recentlyindicated it should rise by another 10%+
3. - RRL depleting resources, their start of exploration and developmentto replace those resources is too late for the current up cycle (which is now taking Uturn).
4. - Hedge book is working against them, it will bite them again on down cycle(as hedge were reversed in up cycle)
5. - Cost of production is tracking up
6. - Market is looking for multi-bagger quick multiplier, 5% dividend and notmuch capital gain will not get much attraction
IMHO RRL will soon visit $2.90 support and may break below it.
Nothing against this stock, from July-August 2020, I started exiting stocks to convert to cash. I exited RRL in October.
Keeping cash, waiting for good opportunities - global market downturn in mid 2021 can not be ruled out.
GLTAH
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$4.39 |
Change
-0.100(2.23%) |
Mkt cap ! $3.316B | |||
| Open | High | Low | Value | Volume |
| $4.47 | $4.53 | $4.37 | $16.81M | 3.793M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 51252 | $4.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.39 | 7201 | 1 |
View Market Depth
| Last trade - 16.17pm 27/06/2025 (20 minute delay) ? |
| RRL (ASX) Chart |