Yesterday's short interest for WBC was 5,137,048. This is well beyond the usual daily 1.6m sold short. Yet, the share price went up a little yesterday. It showed that the shorts were working hard to keep it down. This suggests they are now vulnerable. Today it's down again while other banks are up so I think the shorts are in the overdrive mode. They are only charging more energy into the spring. It will break out sometime in the near future when the shorts run out of firepower. It was a different game when they started at 26.x and short it down on the first 2 days. They have overstayed their welcome and now they are in a tug of war against buyers who are happy to buy at a good price as they can see a bargain considering the level of dividend payment and cash return ... Even the shorts can overplay and look stupid sometimes!
I think the shorts will get desperate soon and there would be a pop to the upside.
Ann: Westpac announces $3.5 billion off-market share buy-back, page-585
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Last
$26.79 |
Change
-0.090(0.33%) |
Mkt cap ! $92.94B | |||
| Open | High | Low | Value | Volume |
| $26.85 | $26.89 | $26.69 | $85.58M | 3.192M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 17958 | $26.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.81 | 736 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$26.81 |
Change
-0.090 ( 0.08 %) |
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| Open | High | Low | Volume | ||
| $26.82 | $26.89 | $26.69 | 1072516 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| WBC (ASX) Chart |