RAC - Charts & Price Action, page-11988

Not TA but purely picking the bottom from timing perspective.

RAC over the last 6 months is declining at twice the rate of both NBI and NASDAQ. If these indexes bottom out at 3,000 and 10,000 then it would take circa three months.

assuming the rate of decline is double due to panic selling, year end tax loss selling and Q2 news flow (generally) squeezed in just before quarter end ~1.5 months seems on the mark.

assuming decline continues at same rate, then $1.50 seems likely unless macro or FA changes between now and June 30th. If it goes lower, no news flow and macro still weak could be longer and lower.

key turnarounds could be;

- Melanoma PD-1 results
- AML dose escalation
- IND

the above could drop at anytime.