RED's chart looks bullish, like quite a few former laggard 'undervalued' stocks like SLR. As the SP approaches the 5y 2016 15c high, the pre-open market depth shows considerable resistance at 14c-15c, as the last vestiges of tired old shareholders surrender their shares.
A $200k investment would blow that resistance away .... till another group of day traders prematurely ejaculates their shares.
The trend is your friend, especially the gold price, which seems to be well on track to US$1400 (according to many 'experts').
An old TA adage is that "volume confirms price" .... note the huge volume at the peak mid 2016 ... after cyclone Gina struck, confirming the top and singling an exit, the next significant volume peak was in July 2017, confirming the bottom (3c can you believe). The most recent low was on very low volume, confirming that no big holders were sellers. The spectacular x3 of the SP has been on large and continuing strong volume .. confirming the uptrend. Now a very large upsurge of volume, at a key resistance level, associated with some negative fundamental, might be a "volume climax" and signal a major reversal. The most damaging externality would be a major reversal of the POG ... unlikely. The most likely company factor would be a major accident, plant failure or failure of KOTH to blossom.
I didn't include a capex raising, as I firmly believe that would confirm that major developments are afoot. The wind and tides are all favourable .... let's hope for a further surge to push through this key resistance so RED can obtain appropriate market valuation.
RED Chart, page-2
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Last
33.5¢ |
Change
-0.020(5.63%) |
Mkt cap ! $2.278B |
Open | High | Low | Value | Volume |
34.0¢ | 34.0¢ | 32.5¢ | $6.865M | 20.65M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 841251 | 33.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
33.5¢ | 59997 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 749955 | 0.330 |
13 | 1474765 | 0.325 |
28 | 1551045 | 0.320 |
5 | 316391 | 0.315 |
13 | 364935 | 0.310 |
Price($) | Vol. | No. |
---|---|---|
0.335 | 59997 | 1 |
0.340 | 712153 | 12 |
0.345 | 601623 | 9 |
0.350 | 448287 | 7 |
0.355 | 118500 | 4 |
Last trade - 16.10pm 12/11/2024 (20 minute delay) ? |
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