RAK...a major disappointment
Quote:
Originally Posted by
RazorX
Just looking at the charts - the SP has been sitting at 65 for a few days now as opposed to it's steady plunge. Watching to see if this is support or whether the SP is 'resting' before continuing it's southward March. Any TA folks out there have an analysis?
Hi RaxorX....RRR sort of nails it with the quote "....The management is not inspiring either - over promise and under deliver and blame the strong currency..."
On face value currency seems to play an important role within RAK product management...but...as you see on the 5 year chart there's no simple correlation...maybe the currency hedging strategies used are masking a correlation..who knows???....
However some things we do know from the chart are..
.....Be careful as to don't entirely rely on the drop of the NZ$ to kick start an uptrend.
.....It tested its GFC (March 3 2009) low of 62/63 (primary Support) recently and succeeded so far.
.....No buy signals yet (as of 23 Sept) and I doubt any would be triggered on Monday yesterdays 67 close.
.....As a share from an investors point of view ..it has been in a primary downtrend during the last Bull market cycle....Not a good sign..eh? A devoted loyal holder would have had a huge opportunity loss over this period of time.
.....A risk/reward strategy could be to buy and hope for a 62c bottom but have stops at 60c....Its a volatile share and has been behaving badly so if support breaks getting out at 60 could be a problem.....nah too risky for me ...rather wait for the eventual turn around then decide
.....From the media's point of view its a a glamour puss business model......from a Chartist point of view its a mangy flea bitten mutt
.....It is a volatile share ...when (if) it does spark the past tells us it may be sudden ditto for its falls...so its the quick or the dead...pre-emptive buying and holding in wait for that sudden burst hasn't been a good idea in the past.
.....A tricky share as it isn't very TA friendly the smart money entering around the Autumn 2010 and the increase in buying volume didn't amount to much..However trendlines together with several indicators increases the reliability...one or two indicators used in isolation not recommended.
http://www.imageurlhost.com/images/r...qf8cevrev4.png