Technically support is about 2.20 however the market is very different to 2016 when the SP hit this level and RRL was not in the same position it is now. If I apply the Fibonacci retracement to the chart above then we have way passed the -!00% and heading to the -138% support level which is around 1.60. Based on current trend and with an ex dive date on the door step then it is likely the fall will continue. Based on the chart the next double bottom is 1.80 which was back in 2015 and technically the next strongest support point. Not sure whats causing this continued fall but DYOR and IMO this will not drop below 2.00 and is a great top up opportunity.
RRL Price at posting:
$2.21 Sentiment: Buy Disclosure: Held
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