Following past trend pretty well. If this is the case, it might touch 13.5c. We have a few trading days now where i feel like the price might drift. Volumes have been tiny. No one is selling, fence sitters are sitting on the fence. IMO a buying opportunity like we saw at 10-11c was pretty rare, and technically doesnt seem like it will happen again (particularly with export restrictions kicking in soon).
Looking at the past spike (circle), it looks like the same pattern coincides with early December, maybe Monday December 4th. Export restrictions are in place, maybe some more media coverage of graphite will kick up some interest.
Fundamentally: offtake partners negotiating price, they have previously been able to buy cheap graphite from China. Or at least the Chinese pricing is low. Why pay more for our product? Lets see how much is exported over the next months. RNU should start to have a bit more bargaining power.
my 2c.
RNU chart, page-3928
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Last
9.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $241.4M | |||
| Open | High | Low | Value | Volume |
| 9.3¢ | 9.5¢ | 9.2¢ | $172.4K | 1.838M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 153794 | 9.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.5¢ | 237930 | 1 |
View Market Depth
| Last trade - 14.49pm 29/08/2024 (20 minute delay) ? |
| RNU (ASX) Chart |