Do not underestimate how positive today's trading was! RCR is yet to take off and have the market cap of our peers, but this was incredibly positive.
Firstly, we had no news like many of our peers today, yet still had a strong percentage green day. What does that tell you when the good news arrives in relation to both Avalon drilling and phase 2 assays during the next fortnight?! I know what it tells me, buy more & hold imo!
Secondly, we managed a high-volume day with more shares churned over, which creates less resistance for future movements. Either traders becoming free carried or the insto's excess shares getting picked up by fresh investors. Which means less manipulation moving forward.
Thirdly, we saw attempts to cap and sell down during the morning session with constant pressure around 10-10.5c. Eventually they were absorbed because the interest and FOMO is too strong. A nice strong close to ensure a 12c close and 20% green day. Less resistance now as we move forward. 15c should arrive quite quickly. With good news, it is absolutely game on for a substantial re rate.
