LOL. No double entendre intended.I see some good information has...

LOL. No double entendre intended.

I see some good information has been posted regarding double bottoms and price action. I think the one thing regarding the RAC chart is that double bottoms typically have more meaning marking the bottom after a significant decline in the share price... in the context of an extended consolidation like RAC has had it perhaps becomes less of a reliable signal and maybe more clutching at straws. The important thing currently is that we're still a zone where the share price has historical support. Many other stocks have broken through several support levels which has inflicted significant damage to their price chart.

I do agree with the others the importance of maintaining this level and rebounding back into the $3's... if price breaks down further from here, the year long consolidation is going to start looking more like a year long top/distribution, that will encourage more selling, and there will be a big psychological price barrier in that $3-$4 range to overcome after that.

Like @IndexInvestor I've also been searching behind the sofa for spare change and have been buying what I can Thursday and Friday as I hear @Misspelly and others have too. I'm happy to have more RAC and I'm happy that more shares have been taken off the market but I'm not sure how long we can all battle against the tide of market uncertainty. Let's hope for some stabilisation in international markets for a while which will give time for RAC's fundamentals to further play out.

PS. In regards to any other type of double bottom I'll unfortunately have to feign ignorance lest Queen Buzzo reads this forum in future.