RYG 0.00% 3.3¢ raya group limited

Break of Short Term Downtrend Imminent...

  1. 24,192 Posts.
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    Ok to me looks like a break of the Short term downtrend is on the cards today. My reasoning is this we have 2 similar periods of  consolidation on the hourly chart below each was followed by a Surge in price movement as bulls suspected oversold I expect the same on this one.  Secondly, we are very close to the short term downtrend line  on the hourly chart ... Would not take much to push above it give the extremely low volumes of late.  Why is there Low volumes simply sellers not willing to sell at these low prices. But why stop here as we are not  key area's of support ?  Well I reckon because folks are thinking that a RTO prospectus price is likely around this region give or take a cent or two.


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    On the Daily chart we have a Doji candle (circled) often signalling a reversal of sentiment. Again on the  daily you can see a lack of volume down here.  WE are extremely close to the bottom if not at the bottom.

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