Well, total change in game play from last week. Have we found our bottom?.
Yes RCR had a big drop from 10 to 4.1 on a weekly basis. Reached 3.7. So a big drop this week, and different ball game now to last several weeks.
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So what is happening? Concerning management behaviour. Concerning price play. Not a good look. The task is cut out now. its back to where I was buying in my first phase few months back. this was my fourth play in last few months. I feel its trying to find a bottom. I feel it may not have reached yet. Credibility also in play, but I am not worried about, its the same across all speccie play. But management defaulted for sure.
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Personally, it was an eventful week for me. I have been writing for weeks and months that I have had very good play in RCR. My last 3 plays were great. I was writing, just on probability, I feel my fourth play won't be good. I wrote that as a general opinion. Unfortunately it turned out right. Last week I wrote my average was 10. But also have been writing for several weeks that a hold of high 9s is important. I got out some last week as well. But this week it was sudden and brutal. I got out one-third at break even 10, one-third at 9.1 - it dropped so sudden before I could realise, unfortunately I held the other one third. So I am down, my only consolation, on a much smaller holding. I was tempted to buy back this week, many times, but I thought I want to see a reversal first. There were some strong plays this week, but general markets were also very iffy, so I let go. I feel its a good price to buy from, and I may buy, but want to see a buy signal first. Stock is holding good. I got a feel that those big buyers from before are buying and getting ready for next leg, but no confirmation yet. Overall a better feel from here. I feel we may do the final low low this week before reversing. But that's just a punt, I may play play like, but please dyor.
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For those interested how the stock is tracking against other REE stocks or who hold multiple REE stocks, I do a Weekly Report across 30 ASX REE stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.
Here is the report for this week.
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