RMS has been making a flag pattern since the start of August and theory suggests price should break out of that and go materially higher ($1.79 to $1.80 by using two different extensions). The flipside of this outlook is that this could be an Elliott Wave 4 - in which case price could be expected to fall down out of the pattern before ultimately rising into a Wave 5. The $1.80 target is also an exact hit with a projected natural resistance level, further supporting the analysis (the red dashed lines are projected resistance). There is a time line around 20 November so perhaps that will be about when it peaks (or falls away to the lower boundary around that date before (hopefully) rocketing off.
Ideally, the time to buy is on the break up out of the pattern but I bought on the previous rise to the top boundary of said pattern in an (unfulfilled) expectation it would break higher - so here's hoping the analysis is good - but make sure you do your own!
RMS chart
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 (20min delay)
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Last
$2.01 |
Change
-0.010(0.50%) |
Mkt cap ! $2.296B | |||
| Open | High | Low | Value | Volume |
| $2.04 | $2.06 | $2.00 | $7.061M | 3.503M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 127312 | $2.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.02 | 18484 | 3 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$2.01 |
Change
-0.010 ( 0.84 %) |
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| Open | High | Low | Volume | ||
| $2.04 | $2.06 | $2.00 | 790790 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| RMS (ASX) Chart |