RRS 0.00% 0.1¢ range resources limited

a ploy to drop the price?...

  1. 15,276 Posts.
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    Problem is...

    Ploy or not, it will probably work!

    So what to do?

    Technically, given yesterday's new high on the close, one would expect to see an up day today...possibly even with a gap up at the open and intra-day high of about 6.5c.

    I suspect now however, we may see a fall back to the low 5's...even if only for a short period.

    It is clear that those behind this are not going to be stacking the buy side this morning and the EOD traders, even in the face of a buy signal, will likely sit on the fence for a bit thanks to last nights announcement...a pretty good chance we may see some bid stacking on the sell side however.

    I suggest people keep an eye on the options today...they will more than likely give the biggest clue to where the share price is headed.

    I think the fairest thing to do would be for RRS to announce before the market opens...if they can that is...regardless, it should be an interesting day today!

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