The heavy selling down to10c was not shorts covering. When a short covers, they need to rebuy the share and return it to the original owner- who loaned it out for a fee. So it actually means buying has occurred- not selling. This probably coincided with rise from 10c to about 15c… possibly saw the ‘golden cross’ about to happen. A lot of the time Instos will also short a small amount to cover the chance the stock falls. The drop in shorts from June 24th to July 18 was huge.
ASN Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
