Incredible that the price is below the close on March the 8th 2021, which is the day prior to the breast cancer preclinical study results. Anything below that SP is an absolute buy - IMO.
It seems that we have finished our fourth major SP run that I spoke about
previously and that
@fmx_rider called last week. What a terrific run we had! It is quite remarkable that the RAC SP is following this trend and fortunately for us holders, I think the ride is just getting started. I have attached below a chart with all the data I think is important that provides insight into future price movements.
A summary:
- Since the discovery of bisantrene as a potent FTO inhibitor the cycle from a previous to new high has decreased from 20 weeks to 14 weeks (a decline of 6 weeks)
- Since the discovery of bisantrene as a potent FTO inhibitor the new high achieved has been 95% and 85% of the previous high, respectively
- The time spent in +- 0.02 of neutral MACD has decreased from 14.5 to 8 and to 3 weeks, with differences of 6.5 weeks and 5 weeks, respectively
- Time spent in + MACD territory is therefore increasing since the discovery of bisantrene as a potent FTO inhibitor
- The pullback from previous highs is decreasing over time with 39% to 29%, indicating more buyers are stepping up at high relative prices
Assumptions:
- With the most recent ATH being achieved in 14 weeks since the last (a decrease of 6 total weeks), I assume that the new high will be met in 8-14 weeks from the previous high of $4.23 on the 9th of March
- The increase of the new high will equate to roughly 74% of the previous $4.23 high, which is an 11% drop from the previous gain of 85%. The true gain could be above or below 74%
- Since the time spent in neutral MACD has been decreasing steadily over time (6.5 weeks, to 5 weeks), I do not expect the MACD to make neutral (+- 0.02) on the next swing down.
- SP could go as low as $3.42 on this consolidation based on historic movements alone
Therefore, I believe that based on this information and the history of RAC SP movements,
I estimate that the SP will be $7.36 by early May to mid June.
Let's see how this one plays out.
All IMO - DYOR
