Not sure why anybody would continue to short MGX at 37c, it does seem foolish unless they have inside information about costs blowing out further. Shorts currently at 26.5 million, I would've thought that there isn't much downside from here so buying back would be more sensible especially with the iron ore price at or close to the bottom.
Still no ships on the horizon will definitely result in a poor Dec quarter. The shorter must see more downside otherwise why continue to short.
I do think MGX is a buy at this level as the resistance is increasing.
Not sure why anybody would continue to short MGX at 37c, it does...
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Last
31.0¢ |
Change
-0.010(3.13%) |
Mkt cap ! $379.7M | |||
| Open | High | Low | Value | Volume |
| 32.5¢ | 32.5¢ | 31.0¢ | $153.5K | 487.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 349395 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 29946 | 18 |
View Market Depth
| Last trade - 14.30pm 11/11/2024 (20 minute delay) ? |
| MGX (ASX) Chart |