Momentum for the day lost, couldn't break through 5c, actually didn't even touch 5c at all, it traded a small volume at 4.95c but too many profit takers and not enough buyers to over power today. It's risen a significant amount in a short timeframe. I was loading up at the 2.3 to 3.4c range especially in that accumulation channel between 2.2 and 2.6c back in August and that's had me on over 100% return so plenty will be in signifcant profits.
It's been a good move up and on fundamental news for the company and overal lithium sector and overall markets; pullbacks are healthy and the Hourly Chart now showing signs of topping out short term with the MACD going from it's low to a high "hill top" formed and about to cross down.
30-min Chart already broke through and crossed down on the MACD, as did the earlier timeframes but the Hourly and 30-min are the key focus and then Daily.
Weekly Chart, overall direction is now bullish though and in an uptrend but will have swings up and down as all stocks do and trade within a range.
That gap at 3.6c whilst a whole cent away, it's not uncanny of RDN to see such big price swings up and down; this could come in to play to get closed now and back test the breakout before further news.
May see a spike on news of drilling starting but then it will be weeks before it's finished and then results, so that 3.6c gap could end up being filled over the coming weeks, but given it was formed on the back of a strong Breakaway with double news events it may not ever get filled which true Breakaway gaps don't.
4.3c needs to hold as first level of support otherwise that 3.6c gap likely will end up being closed.
(20min delay)