WBT 5.10% $3.35 weebit nano ltd

heya - not really to be honest as that would fall under the...

  1. 1,289 Posts.
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    heya - not really to be honest as that would fall under the umbrella of trying to make a prediction based on information I can't see on the chart. If a stock is being heavily shorted then that kind of a campaign takes quite some time to unwind, and the shorts need liquidity to unload into too. These are generally sophisticated operations carried out by big players. I'm a small fish and it's easier to swim with the current. I don't think there's a big enough incentive for someone serious to come along and really short this one down with an abundance of supply that they've secured - I could be wrong but the low SOI lends a bit of weight to that idea for me.

    A large amount of short positions will eventually show themselves on the chart, generally when they cover. A big exit shows ripples as it concludes.
    Short covering against a binary event or sudden change in price direction to the upside tends to feed into a new impulse move upwards too. Volume creates momentum and it takes time to pick up and slow down.

    I think the thing to be watching for now is price action against a few of the lagging indicators like VWAP and higher value emas. The volume lately has been weak - lack of selling and buying. Price follows the path of least resistance so the small selling volume is finding its patient buyers at the lower discounted levels.

    I think the big move is being digested before a decision takes place. There is an absence of buyers for the time being and they need to be attracted back - traders look for a trade and investors look for a discount. If we see some action around the vwap average then that is a sign of a big accumulation play.

    There isn't cause for concern looking at the big picture (for me) until the price breaks that dark blue 30week ema.
    Big stock moves tend to bounce off of them (awarding great buying opportunities).


    https://hotcopper.com.au/data/attachments/5131/5131815-e041947b797e750ef87c66b861247af9.jpg



 
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Last
$3.35
Change
-0.180(5.10%)
Mkt cap ! $636.1M
Open High Low Value Volume
$3.53 $3.57 $3.31 $3.331M 975.1K

Buyers (Bids)

No. Vol. Price($)
1 598 $3.34
 

Sellers (Offers)

Price($) Vol. No.
$3.40 13624 2
View Market Depth
Last trade - 16.10pm 19/11/2024 (20 minute delay) ?
WBT (ASX) Chart
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