RAK Rakon

**Sideshow Bob** · 25-06-2018, 03:34 PM

Originally Posted by carrom74

Good advice... and this is what the chairman had to say in the annual review about its share price...
"It is unfortunate that Rakon’s shares are trading in the low 20 cents,which is around half the net asset backing of 38 cents. No doubtRakon’s years of underperformance are largely to blame, coupledwith virtually no analyst coverage of our stock""

Seems very desperate to spruce the sp up IMO...

He has 2,015,962 shares, almost 1% of the company, so no doubt the underperformance has been costly! (especially if he paid $1.60 at float!)

**Scrunch** · 25-06-2018, 05:30 PM

Originally Posted by Left field

Not quite Scrunch..... the short term MA is currently below the long term MA as the following pic shows. However, volumes are up and sentiment is improving.

Take care with this one, way too early to get excited IMO. (Disc. Don't hold, was once burned etc.....)
Attachment 9765

Fancy software vs free charts. On Anz securities charts which use 30 and 100 days it's crossed nicely but clearly on other combo's it hasn't. Other combo's will differ and may not trigger at all if the share price falls back down.

Disc previously badly burned by this one but saw a few signs of life and gambled on a top up. Agree it's still gambling not investing at the moment.

**Leftfield** · 26-06-2018, 08:13 AM

All cool scrunch, hard to beat free software!

Here's what Investopedia says about the golden cross.

"On a stock chart, the golden cross occurs when the 50-day MA rises sharply and crosses over the 200-day MA. This is seen as bullish. According to Joseph Granville, a famous technician from the 1960’s (who set out 8 famous rules for trading the 200-day MA), a golden cross can only occur when both the 50-day and 200-day moving averages are rising."

The last sentence is quite crucial to your thoughts. IMO RAK's overall trend is still tracking sideways, i.e. not rising (yet).

**Rep** · 26-06-2018, 08:49 AM

Originally Posted by Sideshow Bob

He has 2,015,962 shares, almost 1% of the company, so no doubt the underperformance has been costly! (especially if he paid $1.60 at float!)

Two points Bob
It's reassuring that the chairman has finally noticed that the poor governance has destroyed so much shareholder wealth although he continues to blame others (i.e. analysts for not bothering to cover the stock) but noting he did concede that the sustained underperformance of the stock is also to blame.

The second thing is that he chose to note that the shares are well below their net asset backing of 38 cents - TBH that's polishing a turd again - much of the assets that he is referring aren't tangible and arguably if the market, asset stripper or party interested in taking them valued the net assets on that basis there's plenty of arbitrage to have someone interested. For the long suffering RAK holders, that simply isn't the case.

I've opined plenty of times that RAK is a case study in poor governance lumbering along like a giant wounded beast for years... only to be overtaken by another lumbering underperforming giant in FBU in shares that I wouldn't want to be holding (and fortunately don't - at least not directly)

**Scrunch** · 27-06-2018, 03:50 PM

Just shifted to buy of 25 and sell of 25.5
Only 0.5c away from a 1yr high

**carrom74** · 27-06-2018, 03:54 PM

Originally Posted by Scrunch

Just shifted to buy of 25 and sell of 25.5
Only 0.5c away from a 1yr high

Has your Golden Cross "crossed" Scrunch??

**moimoi** · 27-06-2018, 09:48 PM

The 30 day has crossed upwards through the 200 day.

Still awaiting the "golden" 50 day crossing upwards through the 200 day.

Closed on a new 52 week high above resistance of 0.25.

Volume looks a little light, but its never been a high volume stock.....