LOL. Did you mean @EWexplorer has sold?
Currently SP has been moving above SMA (10) with lowest points right on this SMA line. Also Weighted MA (10) has been also above peer SMA (10) when in uptrend, which demonstrates an uptrend. While in downtrend for a long time, WMA(10) has been correctly below SMA (10), which demonstrates a downtrend. You would be able to see this if you open the daily chart of RAC.
In terms of moving pattern, daily based only shows half of M pattern, i.e. inverted V. Whether or not the other half of M pattern would be formed is actually depending upon how late the first one out of three pieces of news could be delayed by.
With the rest of this current quarter is being reduced, I would not expect this M pattern to be completed. Consider that DOW/NASDAQ futures are in big green over the weekend, it is possible to see break-through of $4, then we will see that the extended rise of this current Wave 3 could be 1.618 times that of of recent Wave from 74.5 low to 229 high, i.e. 412 high from 162 low.
However if we don't see any news this coming week, there is a possibility for us to see the formation of the other half of M pattern. If it does occur, it might be back to $3.3 to form Wave 4. However with news arriving, it will drive up to above $5 eventually as Wave 5.
LOL. Did you mean @EWexplorer has sold? Currently SP has been...
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Last
$1.30 |
Change
-0.010(0.76%) |
Mkt cap ! $215.6M | |||
| Open | High | Low | Value | Volume |
| $1.30 | $1.31 | $1.23 | $212.1K | 166.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5201 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 9799 | 2 |
View Market Depth
| Last trade - 16.10pm 29/04/2024 (20 minute delay) ? |
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Last
$1.28 |
Change
-0.010 ( 1.17 %) |
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| Open | High | Low | Volume | ||
| $1.30 | $1.31 | $1.23 | 17594 | ||
| Last updated 15.52pm 29/04/2024 ? | |||||
| RAC (ASX) Chart |