PLS chart, page-22861

Strictly speaking, @zabbro didn't express an opinion but his impression. He wrote: "... it looks to me like ...". That is the same as saying "... I get the impression ...". And although impression and opinion sometimes are used interchangeably, which is incorrect, they have different connotation. We get impression of things without having to think about them, but to have an opinion on things we have to think about them ( the deeper and broader the better).

Because an impression is formed in us almost instantaneously, it is not questionable as it doesn't require any justification. It is the one who notices or thinks that the impression is wrong who actually has to justify if he wants to show that the impression is wrong.

But I will now assume that your proposition that zabbro expresses an opinion is right, and I will try to justify that opinion ("the shorts are feeling a bit nervous about Mon") as you have demanded. What I mean by "to justify" is to show that it is reasonable.

Naturally, we don't know whether those who sold their shares today are short sellers (shorts) or not. But as PLS share price is currently at low, it is reasonable to assume the sellers are shorts, just as it is reasonable to assume the sellers are profit takers if the share price is at high. And as PLS' annual result will be announced next Monday, it is reasonable to connect that with the trade today.

Now to show that "the shorts are feeling a bit nervous", I will use PLS's 15 minute chart of the trade today:


At 10am, the shorts pushed the sp hard to gap down about -2.67% (from the previous day closing price), and pushed it down further to about -3.17%. But buyers absorbed the sale and pushed the sp 1 cent higher than the open price.

At 11am the shorts pushed the sp back down to the open price. But they did it nervously, as indicated by the ultra low volume at that time (check it online if in doubt). So the buyers overcame the shorts and pushed the sp 4 cents higher.

From 12 to 12:15pm, the buyers let the shorts push the sp down to 2.93.

At 12:30pm, the buyers faked an indecision (green doji) between 2.93 and 2.94.

At 12:45pm, very likely because of the buyers' indecision, the shorts pushed the sp down hard (the volume is the highest of the day) to about -3.33%. But it was a bear trap. The buyers absorbed the sale, and kept buying. And after that there was no more serious attempt by the shorters to push the sp down.

So, I think it is reasonable to think "the shorts are feeling a bit nervous about Mon".

To be clear, I am not saying what I said above is factually true. All I am saying is that what zabbro said actually happens to be reasonable considering the result of today's trade.