For those faolowing RMG it has (had) been sticking to a 61.8% retracement support at around 20c since September last year until word obviously got to the market in early April and the price started to falter.
Things haven't looked great confidence wise here for some time as RMG had been unable to muster enough support during that 6 month period to seriously challenge its 23.6% support making it to 38.2 once and then range trading between the 61.8 and 50% supports.
As of yesterday RMG broke its 100% floor with volume which had been @ 12.5c. The next major support for RMG if it stays consistent to its Fibonacci tendencies is - gulp - 3.5c at the 161.8% retracement.
Holders should note the major downturn in Accumulation index which until the last few days had been holding up despite the price weakness and the plummeting Demand index which began at the start of April.
This information for members and guests.
Thank the Lord above - I do not hold RMG.
RMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
