Take a look at IMU, PTX, PAB, just 3 of the hundreds of biotech stocks. They follow a similar trajectory. Biotech ETFs are all way down. Investors hyped up biotechs as soon as covid hit, even the biotechs unrelated to covid. They know big pharma will be stacked up, they still are.
RHY looked like them too, until some big announcement came. RAC needs something like that to break out.
People are happy to buy at around $4 when it starts trending up, but they won’t buy at $2.7 when price reduces on not much FA negatives other than delays. Human mentality.
Take a look at IMU, PTX, PAB, just 3 of the hundreds of biotech...
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Last
$1.31 |
Change
0.020(1.55%) |
Mkt cap ! $217.2M | |||
| Open | High | Low | Value | Volume |
| $1.31 | $1.31 | $1.26 | $71.25K | 55.65K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $1.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.31 | 5950 | 3 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$1.31 |
Change
0.020 ( 2.18 %) |
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| Open | High | Low | Volume | ||
| $1.30 | $1.31 | $1.26 | 10789 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| RAC (ASX) Chart |