Classic support /resistance flip.
Every time the price went up to $1.70 resistance it was getting sold off (purple dots)
It broke through around 6th june and every time it came down to $1.70 it was bought up.(green dots)
whats happening now?
the people who bought at $1.70 put their stop losses just under $1.70.
Smart money takes the share price down to these stop losses and buys them all up(red rectangle.)
This is what known as a liquidity grab.
RAC - Charts & Price Action, page-21538
-
- There are more pages in this discussion • 216 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RAC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.64 |
Change
-0.100(5.76%) |
Mkt cap ! $278.5M | |||
| Open | High | Low | Value | Volume |
| $1.71 | $1.71 | $1.64 | $205.3K | 123.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1526 | $1.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 234 | 1 |
View Market Depth
| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |