RCR 4.76% 11.0¢ rincon resources limited

"Do not underestimate how positive today's trading was! RCR is...

  1. 9,739 Posts.
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    "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."

    there's nothing POSITIVE about 24/6's trading, it was all based on ENR's high grade Nb assay


    "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!"

    isn' that how the stock market operate? one company hit something then everyone will buy up the other companies in the same region.
    RCR' s/p will not skyrocket like ENR just because they are drilling Avalon, it will be driven by the results not by drilling.


    "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."

    more shares traded at higher price level means that more holders will have higher cost of shares and it creates higher selling pressure when s/p drop so more resistance than less resistance as you suggest.






 
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Last
11.0¢
Change
0.005(4.76%)
Mkt cap ! $31.71M
Open High Low Value Volume
10.5¢ 12.0¢ 10.5¢ $394.7K 3.610M

Buyers (Bids)

No. Vol. Price($)
4 178160 11.0¢
 

Sellers (Offers)

Price($) Vol. No.
11.5¢ 214610 5
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
RCR (ASX) Chart
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