If 1.8c holds on $RLG and grinds on lowering volumes over the next 30-45 mins, it's a pump consolidate. ATM feels more like distribution. If it doesn't consolidate and it does break down in the next few minutes, targeting 1.5c -> 1.7c for a dead cat.
Bought a starter position at 1.8c $RLG Strong reload at 1.7 and volume buying spiked at 1.8 is enough to get my feet wet here.
Bailed. $RLG volume spike into more churn. This distribution is nasty. IF it breaks out it's going to need a 6m+ buy volume spike on the 1 or 2 min candle. Not sure I see that happening at +125% today with 37m volume already traded. It's a big ask..
@DemoniacoASX got a bunch at 1c this morning. holding for a swing hopefully. daily churn dollar wise so far only $400K, quite low for a 100%plus run imo....if it holds vwap at least today, I'll be happy with that for more runs in coming days....lets see what happens
@challinor_dave I was tempted to grab vwap at 1.6c here , but that would break the range of 1.7c consolidation. Especially if it's a high volume sell.. Sitting on the sidelines for the rest of today I think.
@DemoniacoASX if it holds somewhere at this level late into the PM, i'll have some more confidence to hold for overnight
@DemoniacoASX that's a hold for me....overnight at least.