RAK Rakon

[Penfold]

Anyone got any ideas why the stock fell today. I feel out of the loop.

Plenty of tech and growth stocks doing ok recently... why not Rakon?

[scamper]

Pretty low volume -- only 108k
Up from its low for the day of 106

rak has been a horror story for more than two years, but with two ok-ish trading movements.
Probably a small holder finally bit the bullet today.
The charts are not good for this share -- balance sheet and strategy may give some comfort, but the trend is not your friend if you are a holder.
As Percy suggests above, hold on to your money. cheers.

[Silverlight]

On a TA basis there is support at $1. It hit this level for 10 days in Nov 08, it eventually broke this level went lower and on the way back up found the $1 level quite resistant for a few weeks, before moving to $1.60.

The current trend is sideways more than down, it hit 1.18 in late September, and only fell to 1.06 yesterday on a single trade.

The liquidity is pretty small at the moment, and a quick look at the depth, shows hardly any buyers, which reflects sentiment but exaggerates the price fall.

Total Bid Price Price Offer Total
9700 9700 1.06 1.08 1162 1162
32961 23261 1.05 1.1 9588 10750
36961 4000 1.04 1.12 20921 31671
46961 10000 1 1.13 10321 41992
59716 12755 0.85 1.14 15243 57235
62716 3000 0.84 1.15 35018 92253
67716 5000 0.83 1.16 4058 96311

[The BOWMAN]

I have to say this is increasingly looking like an insider trading going on. How is the track record of RAK in terms of insider trading behaviour?

[Dr_Who]

Anyone got any ideas why the stock fell today. I feel out of the loop.

Plenty of tech and growth stocks doing ok recently... why not Rakon?

From memory I think a few brokers have a Sell (underweight or whatever you call it) recommendation on it.

[Penfold]

Thanks for your replies... kind of disappointed in the stocks performance. Maybe looking for a good excuse to dump it.

[flyingfox]

Thanks for your replies... kind of disappointed in the stocks performance. Maybe looking for a good excuse to dump it.

i think the price is very attractive, if you dump it just afraid of sp going down further without any other reason, i suggest you not to , especially when there's nothig wrong with the company.
well it's just my view, i want to buy some but still watching...

[Bobcat.]

I agree that this stock is attractive. I like the products, the industry and the management don't seem half bad either.

I've started buying in over the past couple of days. What I noticed when the DOW sunk below 10000 and it took our market down with it, there were quite a few sellers of RAK once it dropped below $1.00. I suspect that these were people with stop losses who had bought either recently on its way down to $1 or last year as the sp rose well above $1.00. Either way, those sellers are beginning to disappear and depth looks good on the bid side. I'm comfortable buying a few more at this price.

Phaedrus - do you mind publishing one of your graphs with a little more TA insight on this one? Thnx.

[Phaedrus]

You sure do like those downtrending stocks, Bobcat! This the same story as TEL. Inexorable downtrend. Falling OBV. RSI giving excellent Sell signals and a string of useless Buy signals. Why don't you wait until there is some sign of a bit of technical strength? Some hint of a turnaround?

[Bobcat.]

I'll be buying some more if this pup breaks through $1.00. Oversold IMHO.
By Tuesday, I'll be either eating my words or sitting pretty - when RAK starts climbing, it rockets.