Anyone who wanted RRL shares has been able to pick them up below $2.70 for weeks now, plus various parties (the underwriters particularly) have a lot of stock they probably don't want to hold long term so are likely to start trickling it into the market for a while, that's the overhang. There's also general uncertainty so a few people selling out because RRL is no longer what it was.
On that basis you have a bunch of people looking to unload (including the underwriters) with no one in any particular hurry to buy (simply because they already have their fill). Personally I quite like these situations because this period can lead to a temporary price depression.
I recall a similar thing happened with MTS around 12 months ago (temporarily drifting below the raising price) and I took the opportunity near the lows. I even think the raising price of $2.70 was the same or similar. I'm hoping for a repeat here but I'm less confident with this one, at least until we start seeing some positive consolidated production and cash flow reports.![]()
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Last
$1.68 |
Change
0.003(0.15%) |
Mkt cap ! $1.265B |
Open | High | Low | Value | Volume |
$1.70 | $1.71 | $1.67 | $4.545M | 2.669M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 37536 | $1.68 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.68 | 83661 | 39 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
28 | 37115 | 1.675 |
37 | 142960 | 1.670 |
20 | 133361 | 1.665 |
18 | 195859 | 1.660 |
11 | 59113 | 1.655 |
Price($) | Vol. | No. |
---|---|---|
1.680 | 83661 | 39 |
1.685 | 137166 | 28 |
1.690 | 211933 | 21 |
1.695 | 113769 | 12 |
1.700 | 56108 | 11 |
Last trade - 15.17pm 01/08/2024 (20 minute delay) ? |
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RRL (ASX) Chart |