For example the peak of the shorters occurred when it looked like the right shoulder was on the way to finishing the pattern.
If they hopped on a bit prematurely hoping it would complete, and now it hasn't, maybe they're stuck holding and hoping it will continue down?
And if that's the case, any solid news and actual momentum behind an increase would cause them to have to frantically cover, as it became apparent that the pattern is doomed?
Just spitballing here, a bit exhausted after my 90 hour work week (sitting down for some Tassie scotch and sashimi). Trying to figure out why the one company that actually appears promising during this pandemic happens to be one of the most shorted.
PNV - Chart, page-7841
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Last
$2.61 |
Change
0.090(3.57%) |
Mkt cap ! $1.798B | |||
| Open | High | Low | Value | Volume |
| $2.59 | $2.66 | $2.58 | $3.183M | 1.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 19229 | $2.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.62 | 3084 | 2 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |