RAC - Charts & Price Action, page-4600

I like your work, mate. However...

If we are to take a historic approach, I think there are other aspects of the chart that we need to address. The two most recent, significant SP runs have come in three waves, which can be seen by the two red arrows on the bottom left and bottom middle of the daily chart below. While I am conscious of the current crossing of the MACD, it appears that this could be the natural process of initiating the next wave. We only have to look at November 2020 to see that the MACD lines were close together for a number of days before moving more than $1 in price (over 100% jump). Will this happen over the next couple of weeks? I don't know, but am excited to find out.

Daily Chart:


Next, I would like to draw attention to the incredible volume and time of each run on the weekly chart below. As you can see from the chart below, the first run around Feb (not highlighted) lasted for about 3 weeks, second run 6 weeks, third run 9 weeks, and the current run currently in its seventh week. Based on history, this indicates that there is at least two weeks and 4 days left of this run, which aligns almost exactly to the date that we will have heard about the three expected announcements (and possibly more). Additionally, take note of the consolidation time between 'runs', the time between each run is shortening.

Of additional significance is the volume that has traded hands this run. There have been 6 weeks with greater than 4.2 million shares traded, which compares to the first run in June 2020 when the share price was between 30c and ~$1.15. This tells me that there is massive buying interest from people and word is beginning to spread. Also, considering Merchant and Garner dropped about 3.7 million shares into the market combined and we have seen the most tremendous SP rise speaks volumes.

Lastly the MACD on the weekly looks to be trending upwards. Clearly, additionall sell pressure this week would see it smooth off, however buying would only keep it going up and forward. What's interesting to note about the MACD (which highlights the increased buying interest), is the time the blue line spent below the orange line after the first run compared to the second. This indicates that buying interest is increasing - which also causes me to wonder where it will bounce from this time.

Weekly Chart:


And, for fun, the monthly chart. Clearly showing the massive growth that has occured in this company over the last year to 18-months.

Monthly Chart:


So, in summary, if I were to take a historic approach to thinking about what the future SP movements may be for RAC, I would think that it will move up. Evidence supporting this is the macro MACD movement on the daily chart (we are potentially initiating our third wave), runs becoming longer with each successive run and buying volume as high as mid June 2020 which is shown on the weekly chart, and that we have major positive SP catalysts over the next 2 weeks.

All IMO - DYOR