Yep, everyone goes down with negative sentiment towards the...

Yep, everyone goes down with negative sentiment towards the industry.

With regards to RHC, I was watching the buy and sell action on the ASX on Friday.
Rough numbers are:
1.1 million traded. 22k trades, for an average trade vol of 51 shares per trade.
VWAP 62.62.
Lots of 11 shares or less trades happening
Finished on 62.21, well below VWAP

To me it looks like someone big is leaning on this, dumping small amounts into the buy queue, which they probably had stacked up with their buy orders so effectively selling to themselves at lower and lower prices giving the tree a good shake. How long can it continue, I have no idea as it can go on for weeks/months until they have had their fill accumulating at lower and lower prices. But, if (and it is an IF) this the case, one day soon they will flick the switch and reverse the action, pumping the SP up and carrying any small fish on board with them on the wave up. That is what I am trying to catch, though you know what they say about those who try and pick bottoms.

Technically it is essentially at 12 months low (62.15), hasn't been much below 60 since start of 2015 (over 2.5 years), has bounced of around 60 in the past, it is oversold, RSI is very low, and there are gaps in the current down trend in the low 70's. All on no real RHC specific negative news.



So with all of the above in mind, I bought another parcel on Friday, because if the bounce comes, it will be swift imo. My av in now 63.10 and I have more room to average down if the fall continues, and I chose to do so.

I guess we should know within the next few days if my interpretation is correct....

Happy hunting.