From TA, RRL broke a key support today when it crossed below 164.5c. While I'm cautious of stop losses put directly at these kind of levels, it did fall to 160.5c at it's lowest today, so there was reasonable momentum taking it there. Lot's of large orders being filled around that level though, so there is heavy buying going on around that level on the order book.
Next real support is 152c-156, followed by ~145c. MACD going down on the monthly, with weekly/daily already below signal line, OBV also following. unusually high selling volume to confirm both. The upward channel is also now broken. Even MA20/50 looking to both cross the 200MA on the daily for a super death cross if they do.
Spot price not doing too good either breaking it's own supports, but currently holding at 1940+USD/oz. Even with downgrade from Fitch to US credit rating to AA. Yields performing very strongly.
A lot going against RRL at the moment. Only thing bullish I can see is the move is unusually large given the time it was carried out across, which could lend itself to a retracement. Not liking it in the short term.
From TA, RRL broke a key support today when it crossed below...
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Last
$2.13 |
Change
-0.020(0.93%) |
Mkt cap ! $1.608B | |||
| Open | High | Low | Value | Volume |
| $2.16 | $2.17 | $2.13 | $12.56M | 5.864M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 127806 | $2.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.15 | 173261 | 10 |
View Market Depth
| Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
$2.14 |
Change
-0.020 ( 0.57 %) |
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| Open | High | Low | Volume | ||
| $2.17 | $2.17 | $2.13 | 1577609 | ||
| Last updated 15.59pm 21/05/2024 ? | |||||
| RRL (ASX) Chart |