Yep agree, posted this elsewhere yesterday and it absolutely shows that the BIO sector is at a level of resistance and at highs since 2021. Now many might think what has this got to do with a micro cap BIO on the ASX but here’s the thing. It may have little to do with RAC in the small picture but there is a definite flow on effect in the big picture to the small lads when the big boys are running in a bullish sector. And of course the opposite is true, why would you want to be fully in on a sector in a strong bear trend a la the past few years of Bios.
Cheers
RAC Price at posting:
$1.70 Sentiment: None Disclosure: Not Held
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