In any case, if numbers are correct:
Covering 1.5% of shorts into declining SP and low-ish volume is not good at all.
That would mean there is no long buying pressure at all, as most buying comes from Covering shorts.
Usually happens middle of rapid SP crash where dip buying is spent force and SP cannot even muster serious attempt at reversal (meaningful dead cat bounce).
Usually what follows is low volume unconvincing rally attempt followed by SP getting smacked down to new lows.
It would be better for holders if covering numbers are incorrect IMO
PLS chart, page-11613
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Last
$2.90 |
Change
0.020(0.69%) |
Mkt cap ! $8.732B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.94 | $2.80 | $102.1M | 35.55M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 314863 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.91 | 20820 | 2 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |