Since my post at 2.93 trying to explain MOrgan STanley substantial s/h announcements were not positive to some incredulous baggies who wouldn’t be able to detect the short until they are down 60% and claiming manipulation - we are now approaching what would be a critical support level of 1.50and it’s worth revisiting the likelihood of it holding. Im thinking with Gxy as still the no.1 shorted stock on asx that it’s easier to go with trend than a reversal. Having said that got to think some shorters can start to take profits and a support line of 1.50 and it not breaking right away would be a good place to cash in some profits
For me Next week could be interesting to watch could have a couple of (dead cat?) bounces as some shorters cash in some profits and watch price and volume action to see if they should be re opening again or closing out.
Longs could certainly do with a FA catalyst next week to help them bounce on the support line
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