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$1.27 race oncology ltd

Bollies have now reset EW so the SP now has a licence to run in...

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slick

13,534 Posts.

6932

17/04/24

17:25

Post #: 73392432
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Originally posted by EWexplorer: ↑

Here are a few thoughts ...

Macro ... US making continuation type signals so I assume the general trend is down.

RAC news ? No assumptions here - just the chart OK.

That recent RAC pattern could have been a cup n handle but it's now broken down further and the bottom BBand is turning down (one of @slick 's neat little indicators) that happens once the SP sets off under the 20 MA middle BB line.

Therefore the odds are reasonable that the SP is heading for the bottom BBand around $1.30. If a double top (sort of) could be envisaged ... the target will be 90c. Which would conveniently fill a small gap to $1.045. I'm not confident this ever fills!

Contrary to this ... it sure feels like the bot is not giving shares away, so the counter argument is that the general market has oversold RAC under it's likely "handle" support.

This is one of those times when you know news must be on the way ... so dollar cost averaging in is a fairly good strategy.

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Bollies have now reset EW so the SP now has a licence to run in either direction. All indicators are currently not in holders favour.

Cheers

RAC Price at posting: $1.39 Sentiment: None Disclosure: Not Held
20 Upvote

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(20min delay)
Last $1.27		Change -0.035(2.69%)		Mkt cap ! $216.0M

Open	High	Low	Value	Volume
$1.30	$1.30	$1.27	$26.87K	20.99K

Buyers (Bids)

No.	Vol.	Price($)
2	5497	$1.27

Sellers (Offers)

Price($)	Vol.	No.
$1.27	90	1

View Market Depth

No.	Vol.	Price($)
2	5497	1.265
2	1395	1.260
6	9824	1.250
1	2250	1.240
2	13900	1.235

Price($)	Vol.	No.
1.270	90	1
1.275	1400	2
1.280	140	1
1.290	8476	1
1.295	5256	1

Last trade - 15.19pm 30/04/2024 (20 minute delay)


Last $1.27			Change -0.035 ( 0.74 %)
Open	High		Low	Volume
$1.27	$1.29		$1.27	3895
Last updated 15.41pm 30/04/2024 ?

RAC (ASX) Chart