Denial made a good point over on the RXL thread re T3Its often...

Denial made a good point over on the RXL thread re T3

Its often mentioned as low after a spike as the traders get out but its really T1 we should be keeping an eye on ie today for RXL

Most traders done on credit in Australia are through Comsec and they operate on T1 (as far as getting their money back, not for actual settlement which is always T3.)

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HTA one to watch this week and next, possibly tomorrow.

Formed its first higher low (assuming 8c is the short term low, which I think it is) since surging to 14c a few months back.

Big retrace on low volume, looked ridiculously oversold on Money Flow Index until the last few days when it has turned up - good setup.

Also corresponds with 61.8% retrace from 14c using 4c as the start of the move:

Also corresponds with the buy/sell stacks:

Cant ask for more evidence that its more likely to go up than down from here.

DOW permitting, as always.