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RNU chart, page-4546

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fuhc46

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19/11/24

07:12

Post #: 76666194
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Originally posted by fuhc46: ↑

an update on RNU charts: we're still in the trend described previously but share price has hit the previously reported support level of 6.6.

Weekly:

Zoomed daily:

the important 15 minute interval for traders:

Daily zoomed in

15minute zoomed in

The weekly chart shows an increase in net selling over previous week even though there's still one trading day remaining this week. Stochastic RSI is oversold and that indicator has just about bottomed out - it can't go much further down.

The daily chart also shows an increase in net selling of 1.48m vs 388k for previous day. Stochastics show further falls are very possible.

The 15minute chart shows the bulk of yesterdays net selling occurred in the last 1/2 hour of the day which I highlight as the same pattern played out the previous day. It's as if there's some resignation at the end of the day the trend hasn't turned. However, the 15 minute stochastic oscillator is showing a little hope.

The charts indicate a possible short term bouncing SP between 6.9 and 6.6. 6.9 is the current downtrend support and 6.6 is the long term support level. However, from my perspective 5.6/5.4 looks likely. 5.6/5.4 falls within the range that RNU had its highest ever weekly volume of 498.8m shares in the week starting 22/Feb/2021. That week opening price was 4.4 with a high of 7.1. These numbers are significant (for T.A) as those investors still remaining from that period and still holding large will become desperate to either protect their initial investment or top up big, IE, crunch time is upon RNU's SP.

I'm only trying to describe things as I see them. GLTA

Expand

I'll admit that RNU's chart is looking slightly better than anticipated however solely from a chart/technical perspective, I'm still leaning towards caution.

Graphite macro events have certainly changed (Cn restricting exports) since my last chart post which could have positive effects on the share price and more specifically benefits for western graphite demand.

I will stand by my last statement of SP range between 6.6 and 6.9 until the charts show otherwise as it's too early to determine a sense of direction. In the mean time 7.6/7.5 is the area to watch as with 6.9

Weekly chart

GLTA

RNU Price at posting: 7.2¢ Sentiment: None Disclosure: Held
6 Upvote

1 Great analysis

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(20min delay)
Last 5.6¢		Change 0.000(0.00%)		Mkt cap ! $142.4M

Open	High	Low	Value	Volume
5.5¢	5.9¢	5.4¢	$170.2K	2.999M

Buyers (Bids)

No.	Vol.	Price($)
2	155196	5.6¢

Sellers (Offers)

Price($)	Vol.	No.
5.8¢	313507	2

View Market Depth

No.	Vol.	Price($)
2	155196	0.056
3	84181	0.055
3	102500	0.054
2	50000	0.053
7	687999	0.052

Price($)	Vol.	No.
0.058	313507	2
0.059	331046	3
0.060	147500	4
0.061	207411	2
0.062	98604	2

Last trade - 16.10pm 27/06/2025 (20 minute delay)

RNU (ASX) Chart

RNU chart, page-4546

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RNU chart, page-4546

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