I'm no chartist or technical analyst specialist but as @Veritas2000 said, they can definitely be useful. For the past six months you can see in the RRL chart there has been strong bearish sentiment which has placed a lot of downward pressure on the sp from $3 to where it is today.
Most of the goldies have been smacked around a bit lately, even those with relatively strong balance sheets. However a chart as bearish as this suggests that there are one or more aspects of the business that investors are questioning. This could be (examples only) due to doubts about a business being able to sustain it's current cashflows into the future, longevity of it's assets, rising costs, falling dividends or a questionable acquisition/transaction.
If I saw a chart such as this but knew nothing about the respective company, I'd definitely start by digging a little deeper to try and understand the situation a little more.
I'm not brave enough to call the bottom here, I'll leave that up to others :-/
At what point does someone buy RRL?, page-56
-
- There are more pages in this discussion • 49 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RRL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.59 |
Change
-0.008(0.47%) |
Mkt cap ! $1.193B | |||
| Open | High | Low | Value | Volume |
| $1.57 | $1.60 | $1.55 | $7.314M | 4.629M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 88249 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 32916 | 25 |
View Market Depth
| Last trade - 14.40pm 06/08/2024 (20 minute delay) ? |
| RRL (ASX) Chart |