I don’t think it’s shorts covering. I think it’s accumulating by someone.
Shorts covering in a controlled manner, I.e with no news would probably see them sit on the buy side and sell side, forcing the less sophisticated to sell into the offer side.
They will also keep selling into the offer side with smaller parcels to keep the last sale price at the offer side
2021 BRN Discussion, page-15313
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Last
17.0¢ |
Change
0.010(6.25%) |
Mkt cap ! $333.6M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 17.0¢ | 16.0¢ | $414.8K | 2.497M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 569432 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 1170430 | 28 |
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| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| BRN (ASX) Chart |