It's been 15 months since the post below. Always good to look back on old posts. This one was on the money with a target of $0.35 which the stock hit but as price collapsed immediately thereafter you would have needed to be quick to get out.

Price has recently hit resistance at $0.29 - a level it has been trying to get over for 9 weeks. A bullish candle last week suggests next week could be that break and if so there's a target of  $0.33. Not a huge gain but as the stock is coming off a significant low, broken above a downtrend and making higher weekly troughs and peaks, it is looking good for a rally.

RED 17Dec21

11 Sept 2020

RED rose to $0.375 before price collapsed over 40% in one day but in the process also confirmed a new uptrend. Price recovered steadily over the next 11 weeks and made a short term target of $0.35 which was also the overhead resistance of the previous downtrend. Given RED’s propensity to fall back heavily without warning I exited at $0.34 for a small profit - after which price closed 7% lower and then fell back even further over the next couple of days. I’m expecting it may bottom out at around $0.25 - $0.275 (which would see it down by 18% - 25%), after which it may be a buy again before it has another try at the overhead downtrend.

RED 11Sept2020

18 June 2020

RED appears to be rising out of an Elliot Wave 4 into Wave 5 which should see new highs made above $0.40. Price has made a resistance break pattern with a target of $0.37 and with price making higher lows and higher highs this could be an opportune time to buy.

RED 19Jun

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Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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