Good day,
Yes it's most likely short term investors who are looking to exit and take profit after RAC's strong SP run this year (RAC at one point 2.5x in 2021 alone). So if your goal is for the long term, it won't matter much.
However, for those who're looking to top up or buy in, then it does matter to keep an eye on TA so you can buy at the best possible timing, which is the million dollar question everyone wants to know:
My take on SP's short term movement: if it closes below SMA50 of $3.18 today (which is viewed as a popular medium term support), it could continue to trend lower. That said, RSI is sitting at 27% meaning it's heavily oversold at the moment.
Best guess is - selling will continue and hopefully will settle around $2.6-$2.8 while waiting for the next sets of announcements.
I'm not an expert in charting so take the above with grain of salt
GLTAH and DYOR
RAC - Charts & Price Action, page-5157
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Last
$1.95 |
Change
0.005(0.26%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.93 | $1.96 | $1.91 | $91.41K | 47.18K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 335 | $1.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 1000 | 1 |
View Market Depth
| Last trade - 10.19am 16/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |