RAC - Charts & Price Action, page-8435

Another low volume day, things got moving early on only to run out of steam and fall back, with us just touching the Keltner Channel. The bots found no sellers at $3.38 after 1:54, they then just just toyed around with the price between $3.40-$3.43 again finding no sellers late in the day for a close at $3.41

We closed the day 1c inside the Bollanger Band very close to option 2 from yesterdays chart "The price will pull back into the Keltner Channel but close outside the Bollinger Band at a price lower than today's close." With out higher volume I cannot see the other prediction coming into play with option 2 " if 2 comes into play and we close lower and outside the Bollinger Band the chance of 3 coming into play the following day is enhanced."

So for tomorrow the most likely call is for further consolidation just outside the Bollinger band, if our seller releases further shares into the sellers side we could fall back further into the Keltner Channel.

We should now just bounce along for the rest of the week unless the seller restricts supply further to push the price up.


all the best

FireflyOne
The writer's opinions are his own and do not constitute financial advice in any ways.Nothing here constitutes an investment recommendation nor should anything written here or published by myself be relied upon for any investment activities.I strongly recommend that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.