RAC - Charts & Price Action, page-16288

I'm not sure about IMU, but we haven't had much lip service at all recently from RAC that I can recall. That's all gone out the window.

In fact it feels like most people expect we'll never see another positive price sensitive announcement again, possibly excepting the strategy update, which it also seems people are setting up to be disappointed with both in terms of timeline it's delivered and content thereof.

To me, it seems like expectations at this point are rock bottom. Damian said in his linked in post recently that no news is good news as it means business is continuing on as planned with nothing negative that had to be announced. But that's not enough to satisfy the market obviously. We all want some good news to derail the brutal sell off currently going on. Unfortunately that doesn't mean there's news ready to be released on demand nor that it would necessarily help if it were released, but we're looking at the chart and grasping at straws. Understandably so mind you.

Unfortunately it looks like in the absence of anything positive in the short term, RAC will have to trade down to a price where everyone that wants to can get out and there are enough buyers that see value at that level to absorb the volume. Where that is is anyone's guess. That doesn't change anything about what's going on inside RAC, but purely a function of a market where people are free to buy and sell at a price they are happy with.