firstly - thank you for the supportive comments, many times on this site you get shouted down.
You are right, it did bounce off 1.64 today - however I feel that was just filling the gap as it closed yesterday at $1.72. It still closed down on yesterday by 4c and in doing so made its way back to the 38% fib marker.
According to shortman, 48% of volume traded on Monday was shorted....that's massive!!! Don't know what the level is today as the data is not in yet, but over the last week or so the % of shorts has been really high:
Date Gross shorts1 Issued capital % Capital shorted2 Trade volume3 Shorts as % of volume4 1 Mon 19th Aug, 2019 3,912,050 900,888,230 0.43% 8,133,075 48.10% 2 Fri 16th Aug, 2019 3,457,524 900,888,230 0.38% 9,176,652 37.68% 3 Thu 15th Aug, 2019 3,214,607 888,551,851 0.36% 15,049,339 21.36% 4 Wed 14th Aug, 2019 8,648,254 888,551,851 0.97% 17,628,141 49.06% 5 Tue 13th Aug, 2019 7,568,718 888,551,851 0.85% 53,447,289 14.16% 6 Mon 12th Aug, 2019 2,059,954 888,551,851 0.23% 7,413,677 27.79% 7 Fri 9th Aug, 2019 838,089 888,551,851 0.09% 9,036,892 9.27% 8 Thu 8th Aug, 2019 2,535,899 888,551,851 0.28% 14,567,286 17.41% 9 Wed 7th Aug, 2019 3,431,014 888,551,851 0.38% 18,973,727 18.08%
I still think this will continue to fall further, and will find support in the $1.40's - the 61% fibonacci is $1.401.
Bear in mind that the share price drop based on the acquisition of Toro has not really eventuated as yet - the morning it was annouced was also the morning that Trump had sent the gold price soaring with his china tweet. It dropped to $1.58 and then shot straight back up. PoG has stalled for the moment (I think it will keep going up in the medium term though) - which won't help RSG.
I just think this was too hot - it went almost vertical - it had to come back down.
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Last
61.5¢ |
Change
-0.035(5.38%) |
Mkt cap ! $1.309B |
Open | High | Low | Value | Volume |
64.0¢ | 64.8¢ | 61.0¢ | $6.159M | 9.878M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 97876 | 61.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
61.5¢ | 35050 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 97876 | 0.610 |
12 | 293619 | 0.605 |
15 | 266732 | 0.600 |
4 | 87186 | 0.595 |
9 | 420984 | 0.590 |
Price($) | Vol. | No. |
---|---|---|
0.615 | 35050 | 2 |
0.620 | 138985 | 5 |
0.625 | 137931 | 3 |
0.630 | 174108 | 4 |
0.635 | 166255 | 5 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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RSG (ASX) Chart |