shorts will cover some around 58.5c.. And then heap the pressure on if 58.5 can’t hold.
The reason why it has heavy short positions is that the price has been weak despite any market rallys such as Oct to now..
Most pros target the names performing the worst in bear rallies..
Unfortunately BRN is one of those especially when you factor in valuation and lack of earnings todate..
But of course that can change and hopefully will shortly.. Up through 58.5c is the first bus stop for me to jump on.. But I’ll be off at the next stop if it drops below again..
IMO
shorts will cover some around 58.5c.. And then heap the pressure...
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $371.1M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 20.5¢ | 19.5¢ | $656.1K | 3.281M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 364081 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 1348618 | 18 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |