The reason for the SP moving up or down is not always as many suspect, due to an increase in borrowed shares being Shorted.
Example:
29/11/12. LYC. SP Close= 67.5c
30/11/12. Lynas ann. "First Feed to Kiln".
SP Open 71.0c, High 72.5, Close 64.0
227mill shares traded.
LYC Short Posns Thurs 29/11. = 186m shares
Fri 30/11. = 166m shares
Mon 4/12. = 153m shares
IMO, it's not more borrowed shares being shorted here, just a large holder(s) selling into perceived strength.
On the other hand...
Short positions added from Jan 7th to now = 71m shares,
in that time SP moved from 70 to today's close 59.5
If these are to be covered, expect it to be quick and when you least expect.
In the mean time, expect test and re-test of 64-65c before any likely break through 70.
(IMO only)
The reason for the SP moving up or down is not always as many...
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Last
$7.61 |
Change
-0.100(1.30%) |
Mkt cap ! $7.113B | |||
| Open | High | Low | Value | Volume |
| $7.65 | $7.65 | $7.49 | $13.50M | 1.778M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10000 | $7.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.61 | 6808 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |