My guess is they're hoping upcoming announcements will drive some more investor interest, and subsequently price. At the moment one could guess that the inflated buy depth (relative to history) is just Race BB (esp the 1.86 and 1.89 orders).
From a momentum view, I think we're in that chop stage of trying to shift from downtrend back to uptrend. A phase I liken to a large cargo ship doing a u-turn. It's slow, and goes through periods of consolidation, redistribution, sentiment shifts etc. Monthly MACD kind of suggests we are there too.
imho we will turn, but I'm not actually expecting any big xmas rally that will return us to mid-high 3's or near ATH this calendar year. Happy to be proven wrong though.
RAC - Charts & Price Action, page-14234
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Last
$1.45 |
Change
-0.005(0.34%) |
Mkt cap ! $242.5M | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.50 | $1.43 | $62.91K | 43.17K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5700 | $1.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.45 | 591 | 1 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$1.46 |
Change
-0.005 ( 0.23 %) |
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| Open | High | Low | Volume | ||
| $1.44 | $1.49 | $1.43 | 9034 | ||
| Last updated 13.08pm 24/05/2024 ? | |||||
| RAC (ASX) Chart |