It's not short covering, there has been relentless pressure on the sell side for a month with people selling to take up their SPPs. That stopped on Friday with the closing. They popped a bit on Friday and will keep doing so now that that selling pressure is gone. If only 15% of holders sold $5000 worth each then 6000 shareholders sold about 40,000 shares each for 240 million shares over 20 days or about 12 mill shares a day, just for the SPP trade. The share price HAD to be demolished over that period and HAS to pop once that period is over.
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short covering rally under way ?, page-3
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Last
$7.04 |
Change
0.280(4.14%) |
Mkt cap ! $6.580B |
Open | High | Low | Value | Volume |
$6.66 | $7.07 | $6.66 | $29.97M | 4.291M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 35 | $7.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.05 | 6000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 35 | 7.030 |
3 | 26836 | 7.010 |
4 | 15913 | 7.000 |
1 | 6616 | 6.990 |
1 | 8829 | 6.980 |
Price($) | Vol. | No. |
---|---|---|
7.050 | 6000 | 1 |
7.060 | 19004 | 1 |
7.070 | 10354 | 4 |
7.080 | 30616 | 7 |
7.090 | 19829 | 4 |
Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
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LYC (ASX) Chart |