I just took advantage of the $2.05 price to get my holding to a nice round number (and also, average down).
Once the big seller is out of the game (which should happen 3 to 4 months from now), we should get a strong momentum for the SP to mechanically appreciate. I also expect a reversal of sentiment as a result, with new buyers coming from the sidelines and FOMO reappearing. 2-4 months also coincides with expected upcoming news, mainly around the phase 2 trial which could be a catalyst for a rally.
It's a possibility that $2.00 won't hold, but I have a strong conviction that we will be in a much much better place by the end of this year.
RAC - Charts & Price Action, page-11598
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Last
$1.57 |
Change
0.010(0.64%) |
Mkt cap ! $267.5M | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.64 | $1.55 | $134.0K | 84.34K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6283 | $1.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 6559 | 2 |
View Market Depth
| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| RAC (ASX) Chart |