Thanks, I appreciate that. To further previous disclosure, I bought into RAC at roughly $1.8 on November 24 2020 - I think the reasons for that timing are self-explanatory
On your comments re charting/TA, indeed, I once read from a semi-famous Twitterer: 'torture a stock chart long enough and it will show you what you want to see'. The reality is nobody knows what's going to happen with any level of certainty, only levels of confidence. The idea of TA, for me, is that while it doesn't predict the future (if any indicator/method did, it would be literally priceless), it gives insight into the behaviour of the stock's PA, which allows you to assign rough probabilities on the possibilities that can occur in the upcoming time periods. I absolutely don't intend to sell unless the stock closes below $2 (in which case there's more than just a TA problem - there'd be an FA problem). To keep your mind open to what can happen vs what you want to happen is really important. You know you're in a bad spot when you're figuratively tearing your hair out at why the stock is now at $3.12 when you bought at $4 believing with every fibre of your being that it was going to go to the moon.
I don't pretend to say that my charting method is something that can be used in any way to day trade or to find reliable entries/exits, but it absolutely is a tool in my risk management framework. For any stock investor, blindly throwing money at a stock in believing the fundamentals while ignoring the reality of PA in front of you can be disastrous. Just ask shareholders in ADN (I can mention this ticker since it's completely unrelated, right?) that bought at any price above 18 - I have yet to come across a stock that is as zealously defended by its proponents as the greatest thing since sliced bread. And yet hey, they are still under water.
We all hope RAC will do well, but no stock goes up in a straight line. For those that do get worried about price retracements (which, frankly, is a silent majority - reflected in the PA), well, that's what this particular thread is ostensibly for: to allow those to share their views on how PA could possibly play out and allow people to make their own decisions in what is hopefully not an echo chamber, an area where RAC does quite well at, albeit with some cracks and heightenened emotions in recent weeks.
RAC Price at posting:
$3.12 Sentiment: Hold Disclosure: Held
(20min delay)