Ok for those who don't have access to Premium version of ChatGPT and can't chat with http://www.MarketAnalyst.io I am copy pasting the responses
Those who have access can directly talk to the bot here: https://chat.openai.com/g/g-GTYHlcSk3-marketanalyst-iowhats your view on RAC.AX?MarketAnalyst.ioTalked to gpt.marketanalyst.ioHere's the technical analysis for RAC.AX as of today:
- Asset Symbol: RAC.AX
- Current Price: 1.69
- Next Target Price: 1.84
- Time Frame for Target Price: Estimated to reach closer to the upper band within 0 to 24 hours.
- Next Support Level: 1.05
- Next Resistance Level: 1.84
- Projection Confidence: High
- Historical Price Projection Accuracy: [To be Determined]
- Trend Direction: Up
- Today's Market Action: Buy
- Today's Market Sentiment: Positive
- Fear and Greed Indicator: Greed
The current price of RAC.AX is situated close to its short-term moving averages, indicating a bullish trend. The price is currently between the lower and upper Bollinger Bands, suggesting volatility and potential for reaching the upper band (next resistance level) at 1.84, considering the trend's direction and momentum indicated by a relatively high RSI of 70.16, which points towards buying pressure.
Given these indicators, the market action recommendation for today is a "Buy" with a positive market sentiment. This outlook is based on the current technical indicators and the position of the price within the Bollinger Bands, alongside the EMA and SMA trends that show a bullish movement.
Disclaimer: This technical analysis is done by AI and it's not guaranteed for its accuracy. You need to do your own research and don't take this information as financial advice.
Youwhat about market sentiment ?MarketAnalyst.ioThe market sentiment around Race Oncology Limited (RAC.AX) is quite positive, reflecting optimism in its recent developments and stock performance. Here are the key highlights that influence the sentiment:
Positive Clinical Data: Race Oncology reported favorable clinical data from a Phase II clinical trial of Bisantrene, conducted at Israel's Sheba Medical Centre. The trial showed Bisantrene to be well tolerated and demonstrated an overall clinical response rate of 40% in patients with relapsed or refractory Acute Myeloid Leukaemia (AML).
Stock Performance and Forecasts: The stock has shown a very strong rising trend in the short term, with support at $1.08 indicating potential for further growth. Recent technical analysis signals, including a Golden Star Signal, suggest continued bullish trends with high volume supporting the last price lift, which is considered a technical positive sign. The Golden Star Signal, a rare combination of short-term moving average, long-term moving average, and price line, often precedes long and strong gains for the stock.
Risk and Volatility: While RAC.AX is considered "very high risk" due to its volatility, the strong upward trend and support levels indicate that the potential rewards might outweigh the risks. The stock is currently extremely overbought on RSI14, which typically suggests a good selling opportunity. However, since it has broken the trend up, the chance for a major correction is considered small, as the stock will likely find support at the trend broken.
Overall, the sentiment around RAC.AX is buoyed by strong clinical trial results and a positive technical outlook, making it an interesting hold or accumulate candidate while awaiting further developments.
