Who is dumping RAKCC ?

[sam111sam]

RAKCC was falling like a rock, breaking all resistance and clearly oversold

Seems that the younger sister RAKWCT dumped 20m shares (4%)over the past one month ?

Now the question is why are they doing so ?
Do they know something we don't ?

[thajuddeen]

Few months back there was a huge single trade of over 54 million shares. The stock has not traded above 1.44 since.

It might need to come down and retest 0.95 before breaking above 1.44.

Usually this kind of stock tend to have a late rally after the rally in bluechip stocks pauses.
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Take your own decision; and you decide your destiny

[OnlineTrader]

0.95 is too far and given current markets situation we might not see it now.
But might be 1.05-1.06.

Thaj, Agree?

[smartmoney]

[dov222]

I dont agree it will fall to 0.95, not even 1.05..
i think we already saw the low, as recent as last week at 1.13

ive been watching this stock alot the last few months, i was so convinced in early October that it was about to explode upwards, when it was stuck in the 1.38-1.44 range..

Volumes were high, orders were huge. I was totally convinced it was being accumulated, i took a position and i waited patiently, thinking i was clever, then it tanked, lol..

The lesson is this: when a share is being accumulated, it is hard, and almost impossible to tell. Signs of accumulation, clear signs even, like high volume and big orders, are one way to trick ppl to think it will go higher, while they offload the shares they have bought at lower prices (1.1-1.25 for example).

the share is trading now at 1.16-1.2, low volumes, small orders. my gut feeling (and i've been wrong on this share before, so beware my advice) is that it is being accumulated at this level, and getting closer to take off.

Good Luck

[thajuddeen]

The stock has hit a peak around 1.65 from 0.95.

It failed to break above 1.44 from 1.15 twice.

Recently it broke below 1.15 that might limit upward potential and new peak might fall short of 1.44.

I think the last couple of quarter results were below par.

From a lower price the stock could swing in a broader range.

If EMAAR can break above 5, I will agree for 1.05.
_________________
Take your own decision; and you decide your destiny

[dov222]

Small breakout today on this share.

Prop i think mentioned a few days ago, that maybe it would be better to switch to ADX stocks, and indeed, they have fared better than DFM, specifically Waha, ADCB, Methaq and now Rakcc,

Back to Rakcc, last time it broke out in Sept, in came back down in the next 2 days before taking off again...

If we have a similar scenario, im guessing entry somewhere btw 1.21-1.22 could be promising.

[thajuddeen]

Stock hit 1.10 and closed below PIVOT (1.12).

PIVOT 1.13
S1 1.09
SM1 1.08
S2 1.07
SM2 1.05
S3 1.03
SM3 1.01

I would have bought it at a limit down, but I have only a few dirhams left in my account.

If it hits a limit down average down for a trade.
_________________
Take your own decision; and you decide your destiny

[thajuddeen]