I started buying today even though I know that tomorrow could see the SP at 14 cps and it could be even lower by the end of the week. I will be buying each day the sell off continues and average out. We do not know exactly when the sell off will end but when it does the share price is going to climb back imo. Looking at the chart below, the SP is not even in the Bollinger Band (green) and nor is it in the price channel (pink). That strongly suggests the company is oversold which of course it is on fundamentals but that means nothing if someone is determined to sell. The short term is moderate risk but only until the sell off ends which is probably going to be this week. The Top 20 has just a few holders who could sustain this selling pressure up to today and the selling cannot continue much longer. I don't know who is selling but have a fair idea and I do not think that seller will exit the RXL registry completely. He probably wants to sell down to about 1m shares.
My Opinion
RXL Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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