"However a slight pull back from here in the absence of any news, would also be a buying opportunity."
Wasn't having a dig, just a curious statement.
Anecdotally, I've spoken to a lot of people looking to buy 'the retracement' (most were too spooked below $1) and only a couple looking to sell near term (and only to fund options). Not sure where this volume is going to come from to allow everyone's entry. Any time we lose momentum, selling volume falls off a cliff. Same thing happened today when we touched the 8MA before we closed in Jabra's 'resistance zone'. The same zone we wouldn't see again until $1.15 was tested...
I'll go out on a limb and say this is the retracement. There's very few 'trapped buyers' between here and ~$2. Has to be the target before the month is out.
RAC - Charts & Price Action, page-20329
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 (20min delay)
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Last
$1.73 |
Change
-0.060(3.35%) |
Mkt cap ! $297.9M | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.79 | $1.72 | $75.85K | 43.17K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 328 | $1.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.74 | 532 | 1 |
View Market Depth
| Last trade - 12.26pm 17/06/2024 (20 minute delay) ? |
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Last
$1.74 |
Change
-0.060 ( 1.79 %) |
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| Open | High | Low | Volume | ||
| $1.76 | $1.77 | $1.72 | 16326 | ||
| Last updated 12.39pm 17/06/2024 ? | |||||
| RAC (ASX) Chart |
