Appreciate your insights as always @EWexplorer
I am not a pro chartist, but yes it does not look like a saucer pattern playing out. A saucer involves a slow trend reversal [0]. At this time, I'd assume the continuation of current pennant over 1 year+ period. That pennant would breakout on the back of company announcements. The million dollar question is, is the SP bottoming at $1.4/$1.5 or are we still in the continuation of a descending channel?
As pointed out by @stewar1t RAC more or less tracks the biotech indexes, so assuming an index recovery, this could create the pressure necessary to lift SP while we patiently wait for Announcements & hopefully breakout. Below is RAC vs XBI biotech index [1].
[0] https://www.investopedia.com/terms/s/saucer.asp
[1]
Appreciate your insights as always @EWexplorerI am not a pro...
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Last
$1.22 |
Change
-0.010(0.81%) |
Mkt cap ! $202.7M | |||
| Open | High | Low | Value | Volume |
| $1.26 | $1.26 | $1.14 | $381.6K | 320.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7000 | $1.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.22 | 2171 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.17 |
Change
-0.010 ( 5.54 %) |
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| Open | High | Low | Volume | ||
| $1.23 | $1.23 | $1.14 | 48407 | ||
| Last updated 15.52pm 03/05/2024 ? | |||||
| RAC (ASX) Chart |