The immediate trend is consolidating (only a few cents up/down).
I am tracking the COVERED short as listed on ASX and as of last night 949,875(or 0.11%)shares are short. The max amount of allowable MGX shares to be short is 80,416,582 shares, the highest in the last week or so was around 0.16%.
There is less short on MGX because US dollar is consolidating ie when the USD is easing, hard commodities tend to trend upward (IO is tracking hard commodities closely right now).
The other reason is XMJ (S&P/ASX 200 Materials index) has reached the HEAD/SHOULDER pattern, and as last night was at 11645. The good news, if a rebound occur, it will rebound quite a way up to 13500 (I guess the short are seeing this odd thus are pulling off from MGX, perhaps???).
fundamentals, page-12
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Last
36.5¢ |
Change
-0.005(1.35%) |
Mkt cap ! $444.6M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.0¢ | 36.3¢ | $395.4K | 1.080M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 193636 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 25000 | 1 |
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| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |