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Is RDN now totally dependent on news?.Last week there was a push...

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    Is RDN now totally dependent on news?
    .
    Last week there was a push towards 1.4, coming back from 1, and finishing at 1.3. I was wondering and had headlined whether RDN is back. Based on my reading (and I am no expert), the rise towards 1.8 looked more like a sucker rally, and the rise last week towards 1.4 was more on technicals. Somehow it has played out like that till now. This week bulk of the trading happened on 1.1, with a few forays up and down. So its back at 1.1, which it reached first time couple of weeks back on a massive volume days and losing the trading zone to enter a new zone. Its still there.
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    So what is happening? Andover was the flagship for RDN. Till now, based on available, looking at recent trading patterns, and considering drilling is happening/happened, and there are always some in the know, at this stage its not looking great, at least for Andover. Things could change though, one good hit is all it needs to get back sentiment and price. The other thing weighing down is the Li macro is playing very weak. Many, and I mean many, Li stocks are making fresh 52 week lows, including LTR/PLS doing that this week. That also does not help. Many may think its market cap is still too high with no positive mineral result. Its market cap is close to say like GL1/AGY which many may think are more advanced. So its still risky at current levels for Lithium. Of course there are other drilling going - results were due now. No leak till now it seems.
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    So what may happen next week? Any news could be a game changer. Especially on the up. Any bad news too, but the downside percentage is now lower than up side percentage, so risk reward is getting better - but, unfortunately it is still dependent on delivering something good. Many long terms may continue. I feel very few new will join for now. Many waiting for announcement/results, like me. I hope there is something good in near future. All the best.
 
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(20min delay)
Last
0.5¢
Change
-0.001(9.09%)
Mkt cap ! $17.25M
Open High Low Value Volume
0.6¢ 0.6¢ 0.5¢ $194.7K 38.68M

Buyers (Bids)

No. Vol. Price($)
47 37778337 0.4¢
 

Sellers (Offers)

Price($) Vol. No.
0.5¢ 5058415 5
View Market Depth
Last trade - 15.18pm 19/06/2025 (20 minute delay) ?
RDN (ASX) Chart
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