They're just covering at a rational point to do so. A decent pullback was on the cards, so it would make sense for more shorters to close their positions.
No change in trend confirmed until trading at/above 0.40c for a continuous period. No bottom has been confirmed, yet.
Note, I realise some class a 'bottom' as a point where a pullback starts. This is technically incorrect, a bottom means just that - the bottom before a change in trend where the price won't go lower.
Agree with you, announcement could very well ignite the buying action further, however not expecting one for a couple of months yet, in my opinion going off their track record. Share price dictated by the traders still and TA, as fundamentals are coming close to being priced in.
IMO only.
AGY Shorts, page-479
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Last
3.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $53.86M | |||
| Open | High | Low | Value | Volume |
| 3.9¢ | 3.9¢ | 3.7¢ | $45.77K | 1.200M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1412593 | 3.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.9¢ | 100000 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| AGY (ASX) Chart |