Hi Yannpiot,I tend to agree with you that any where between...

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Rossi70

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31/07/21

13:43

Post #: 54927851
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Originally posted by yannpiot: ↑

Fundamentally, nothing has changed and the company is progressing on their strategy.

IMO Share price is going down because weak hands investors and traders are running out of patience and exiting with profits. The slow drain in SP is encouraging them to do so.

There has been a windfall in newsflow during Q2. Q1 saw the kick-off of the new RAC strategy (lots of news and excitment), and we cannot reasonably expect early results until late August/September.

Besides, some speculate there could be some institutional actor pushing the SP down/capping as part of an accumulation strategy, eg. by stacking the sell side and make it look bad. What we've seen is, historically RAC has had a bigger Buy side than Sell side, but over the last few months we've seen the sell side matching the buy side. And yet, with some signs of selling stopping once the SP goes down to a particular level.

If that is true (I think it is) then it is a positive sign to us long term investors to hold.Personally, I am holding and IMO if the SP continues to go down (who knows) this could very soon hit a hard bottom above $3.00 ($3.10? $3.15? $3.20?). Anyway, as long as it stay above $3 we should be OK. Time will tell, we're not too far from there.

PS I would buy more if I had the cash and was not already over-invested in RAC.

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Hi Yannpiot,

I tend to agree with you that any where between $3.15 too $3.30, might be the bottom.

With the R.S.I. heading to over sold territory, I would like to see large volume turning up.

Let's wait and see what Mr Market has installed for us, as I have no control in what the market think's of R.A.C.

IMHO.

Regard's

Rossi70

RAC Price at posting: $3.35 Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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