- Capitulation is when there is peak market pessimism, together with some individual investors hitting their pain threshold, and therefore sell at all cost just to stop the bleeding.
- I believable yesterday’s (plus this morning’s) price action and volume signalled capitulation in the RAC sp.
- This is a bullish signal and good entry point for patient long term investors.
My New View:
- RAC is going higher from here.
- still hopeful (against most people’s view) that $4.50 options will be in the money come 16 May 2022. There are still 9 weeks to go till expiry. This is based on fundamentals of the potential RAC announcements to be released plus changing of market sentiment.
- However, why worry about exercising options at $4.50 in 9 weeks, when you can buy now under $3.
- (Reminder: in Q1 2021, RAC returned over 100% in 5 weeks. If repeated in the near term, that means $5.20 by mid-April 2022).
RAC - Charts & Price Action, page-11065
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Last
$1.94 |
Change
0.055(2.92%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.89 | $1.96 | $1.85 | $333.0K | 174.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3105 | $1.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 7574 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |