Last time we had significant news "foreshadowed" in the quarterly, there was an ~ 14% drop and the share price then rocketed 150%. Similarly the share price had a 125% run leading up to the last AGM ( news pending, sentiment builds, price runs ).
RAC's activity now is like an explorer preparing a drill campaign and then results follow. In RAC's case the 4C has signalled news is on the way.
We've pulled back around 6% since the 4C (roughly measured) but IMO we are setting up for another big run. A similar run gives a share price target about $8.30 over about 6 weeks. Once the SP clears the previous all-time high I do think we will have resistance around $5.00.
Price action was more gentle today (the current downtrend is slowing). Volumes were also much lower than the previous 2 sessions.
RAC - Charts & Price Action, page-7252
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Last
$1.23 |
Change
-0.005(0.40%) |
Mkt cap ! $204.3M | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.25 | $1.21 | $120.5K | 97.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 991 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 2409 | 1 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
$1.24 |
Change
-0.005 ( 0.40 %) |
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| Open | High | Low | Volume | ||
| $1.24 | $1.25 | $1.21 | 17303 | ||
| Last updated 15.51pm 02/05/2024 ? | |||||
| RAC (ASX) Chart |