RAC - Charts & Price Action, page-20432

It's great (and not unexpected) to see some consolidation of the share price around (and hopefully above) this $1.60 price region. In the past, this price has acted as a significant support area for RAC in 2020, 2022 and 2023, as well as a last major resistance level before the collapse (and what looks like may have been capitulation marking a long term bottom) that occurred in July/August last year.

This level did not offer any support on the pullback from the initial spike up to $1.81 earlier last month, however it now looks as though there is starting to be some support kicking in at this level. If RAC can consolidate and hold above this level and build a solid base of support here I think it would be extremely bullish for long term price action.

As we can see, back in December 2020/January 2021, RAC consolidated here for a couple of months before rallying to all time highs. This time period now potentially corresponds to the expected release of significant fundamental news regarding tox screening and the all-comers trial, so the stars could be aligning in that respect. History doesn't repeat as they say but it could hopefully rhyme here.