SYA 2.94% 3.3¢ sayona mining limited

General Discussion Topics, page-87940

  1. 1,161 Posts.
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    I personally think they will continue to short as its the path of least resistance to make $$$ currently, until we begin to show signs of a flow of price catalysts that will turn the tide making their long positions the path of least resistance.

    I'm going to play devil's advocate here for a second, IF we don't see a continuation of the current trend channel over the coming week or so and the SP begins breaking down - the next level of support is between 0.24-0.23. Coincidently that puts as at roughly a $2b MC which is teetering on the bottom of the ASX200.https://hotcopper.com.au/data/attachments/5024/5024130-5ca8fbf864c4568a91604e2116be4438.jpg
    The 200 rebalance is early March (3rd iirc) - lets say we did fall out of the 200, this creates a compounded sell-off and forces the SP down, putting the shorts well into the money again and allows them more breathing room to close them out properly. The big boys get their last chance to hoover up shares at an enticing price and news flow/circumstance permitting the path of least resistance becomes being long.

    Of course this is contingent on there being a large degree of manipulation involved but after seeing what has happened previously here and with other companies it wouldn't surprise me in the slightest. Hopefully this doesn't play out but I can't help but think its a possibility

 
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