Thought I'd have a go at a longer term chart outlook for RAC and...

Thought I'd have a go at a longer term chart outlook for RAC and what I believe could be unfolding for us.

In my opinion we're seeing a huge bull flag playing out on RAC, a bull flag is a period of sharp increase in SP off the back of strong volume followed by a lower volume slow decline in SP in a rectangular channel during a consolidation phase.
As pictured below:

On a long term chart we can see that RAC has had a sharp increase in share price accompanied with a large increase in volume followed by a rectangular shaped downward period similarly to the example showed up above.
(Excuse my crude charting skills LOL)
Usually the bullish outbreak that follows the consolidation period of a bull flag is equal to or more than the increase seen in the first run leading me to have a price target once we break out of our bullish flag channel to the upside to be approximately $6.7AUD at least!

Off the back of fundamental developments such as the cardiotoxicity discovery and beginning our developments of partnerships and deals with big pharma I think this isn't too unrealistic at some point in the near/medium future.

As said by Investopedia:


If this pans out (It's my belief that it will) I think we will have many new investors FOMOing in contributing to more strong volume seen in our early strong rally and much to celebrate as we continue our journey to an eventual transaction!

Happy investing everyone.
As always: Patience, patients and patents