A quiet, wet winter’s day in the valley. This 5yr monthly May be instructive. Overshot a C&H high in Jan ‘22, on the back of easy Covid money. Double top early ‘22, repeated towards the end of that year. Red candle Dec ‘22 was a clear sell signal, is yet to return to those highs. Drifted lower last year. Has traded within the range of Jan ‘24 red candle so far this year. MACD seems to be turning. Trends are long term so the next rally could be fun. Possible incoming squeeze on the Bollies. Hard to see it breaking a lot lower. Share price seems to have stabilised and could be basing around here.
There are a lot of stocks in the sector w charts like this. The trick will be to be on the right ones when the worm turns. This might be one of them.
RNU Price at posting:
8.7¢ Sentiment: None Disclosure: Held
