So this is where I'm at, in my opinion the short sellers are f*ed. They've gone into this around the mid 7's to mid 8's, 5.6 million shares. Total sellers ATM including anything else being short sold is around 200k.
They'd need an absolute barrage of real sellers to close their positions. Hence the desire to break into the $6 range and perhaps trigger some stops.
Even if a proportion of the shorts were based around higher values, we can see that at least 2 million of them were around these trading ranges.
There's no way to close without absolutely blowing the sp out of the water.
ASM Chart Thread, page-5979
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Last
79.5¢ |
Change
-0.020(2.45%) |
Mkt cap ! $144.0M | |||
| Open | High | Low | Value | Volume |
| 81.5¢ | 81.5¢ | 78.5¢ | $114.6K | 144.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 50778 | 79.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 80.5¢ | 691 | 1 |
View Market Depth
| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| ASM (ASX) Chart |