PLS chart, page-13447

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BabaRoga_space

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02/03/23

12:21

Post #: 66559618
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Originally posted by Darkstone: ↑

@dfs1

Well , looking at the charts it looks to me that it would have been circa 16 Dec that the news leaked, because that is where it broke through the retrace support line that should have held for a normal wave 5 retrace where there was no external market reason for a major revaluation - ie. war, demand collapse, corporate disaster, etc. So, in the initial instance since EW pattern trading is everywhere now, you would expect shorters to anticipate the EW cycles and short when a retrace was due. Then you would also expect them to anticipate the targets and exit smoothly around the target. Retail tends to forget that shorters don't just sell and wait, but rather sell and rebuy sometimes within the day, then sell again, in a cycle on the way down. Thus risk is managed and only a portion of the borrowed shares are actually sold at any given point. Given they can borrow from each other they can also make the same initial loan of shares work several times over and spread the risk.

Now the question is whether it is just CATL, or are other Chinese companies with foreign, non China holdings doing the same thing, and if so why? I think understanding the reasons for these very large sales and the timing might be kind of important. Was the influence after the 16 Dec just specific to some news about CATL's intentions, or was it concluded from a general trend expectation because of something else the smart money heard or interpreted? The fact that this sell down has been sector wide in Oz and not PLS specific might raise some interest, as might the differences we have been seeing between US Li companies and Oz Li companies, the latter who mainly sell to China.

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Stock market wide external reason

PLS Price at posting: $4.06 Sentiment: None Disclosure: Held
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(20min delay)
Last $2.73		Change 0.060(2.25%)		Mkt cap ! $8.131B

Open	High	Low	Value	Volume
$2.70	$2.74	$2.69	$12.68M	4.670M

Buyers (Bids)

No.	Vol.	Price($)
10	55230	$2.73

Sellers (Offers)

Price($)	Vol.	No.
$2.74	216210	30

View Market Depth

No.	Vol.	Price($)
24	104736	2.730
21	67118	2.720
18	159407	2.710
17	189767	2.700
17	196295	2.690

Price($)	Vol.	No.
2.740	228719	24
2.750	245442	33
2.760	87206	13
2.770	374515	15
2.780	142677	19

Last trade - 11.16am 21/10/2024 (20 minute delay)

PLS (ASX) Chart

PLS chart, page-13447

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PLS chart, page-13447

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