Sorry to be the bearer of bad news, but there's way too much optimism here.
For starters, there's 200 million trapped shares just waiting to be dumped at $1.80. Forget that there's only 165 million shares on issue, RAC shareholders are so pissed off they're going to sell them twice, just to teach the company a lesson! Or maybe more than twice. So it could be 300 million shares up for grabs there. In fact, the higher RAC's share price goes, the more pissed off those trapped longs are going to get and the more they're going to dump and the lower the share price is going to get. If that makes no sense, just read it again! And again if necessary.
And there's BIG resistance at $1.46. No, $1.47. No, $1.50. Sorry, but it ain't getting above that price again in a hurry.
And memo to everyone that has missed it - which actually does seem to be everyone. That news last week about cGMP RC220 being received is a SELL THE NEWS event. NOT a buy the news event YOU IDIOTS. Yes, the stock is up 4 days in a row since that news, but that's just because the market doesn't understand the news yet. Once the market has had time to fully digest this news, down she goes! How many times do I need to repeat that this news is so bad, it should be sold. Heavily.
And it's going to be 5 years until this company does anything. Sorry, but no more news until then.
And it's heading to 50 cents. No, wait, 47 cents. No, wait, 38 cents. That's where my buy price is. And I'll be buying big at that price because this stock is a winner and it's going to make me a fortune. But until then this is a dog. Don't say I didn't warn you.
I've got that all correct, haven't I
@JabraD?
PS. And
@johndprent is a terrible chartist. The worst. Don't pay attention to his stuff.
