RAC SP has been holding pretty nicely today (so far) but very indecisive (low volume). It would certainly be nice to see upward momentum and get away from this stinky $2.80 level.
I believe the shareholders' consensus is that $2.80 SP is way below the true RAC value. This represent a nice opportunity to buy low, but the bulls have learned to lesson many times this year and will probably stay on the sidelines until there is a strong reversal signal.
My optimistic line of thinking is that we might have reached a stage where the last bits of desperate holders are exiting due to lack of patience/ lack of announcements as well as broader economics and geopolitics. Also the bot trading pattern that pushed the price lower seems to have stopped - for now.
On the FA side I believe we are not too far from getting some updates on programs (end January and then end Q1-22). Granted, pre-clinical results tend to have little effect on the SP, but personally, I'd like to think that encouraging interim results for anti-PD1 synergy could be a catalyst for a small rally.
So, possible formation of double bottom? Or else, continuation of the 1 year downward trend?
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Last
$1.62 |
Change
0.055(3.53%) |
Mkt cap ! $272.6M |
Open | High | Low | Value | Volume |
$1.57 | $1.62 | $1.57 | $117.4K | 73.41K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 636 | $1.61 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.62 | 500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 636 | 1.610 |
1 | 7342 | 1.605 |
3 | 10140 | 1.600 |
3 | 37050 | 1.595 |
3 | 11950 | 1.590 |
Price($) | Vol. | No. |
---|---|---|
1.615 | 500 | 1 |
1.620 | 1118 | 2 |
1.625 | 385 | 2 |
1.630 | 20302 | 3 |
1.635 | 337 | 2 |
Last trade - 11.45am 26/08/2024 (20 minute delay) ? |
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