News re the ALB sale of their LTR parcel and the slowing down of investment on some future growth projects is further evidence we are nearing the bottom of this cyclical downturn. The LTR sale is of particular interest, where they are offloading 96m shares at a discount to current market price. I see this as a big opportunity for shorters to close out positions and bank substantial profits.
It also has ramifications for short positions in other industry players (i.e. PLS) and the possibility they soon may start reducing exposure to these (similar) short positions. If so, then we should start see buying coming back into PLS in the form of closing short positions (covering). As we all know, the shorters will need a hell of a lot of stock to overcome exposure to PLS positions, so they should prudently start reducing their risks and book some profits.
This should be done at a time when some feel there's still further share price downside as (if history is any guide) the bounce back in pricing is rapid and extreme.
So, it would appear that longs should continue to ride out the current downturn rather than cut-and-run at this stage of the cycle..... IMO.
News re the ALB sale of their LTR parcel and the slowing down of...
Add PLS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$3.80 |
Change
-0.060(1.55%) |
Mkt cap ! $11.43B | |||
| Open | High | Low | Value | Volume |
| $3.79 | $3.82 | $3.73 | $57.00M | 15.04M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 69737 | $3.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.81 | 38473 | 6 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
|
|||||
|
Last
$3.80 |
Change
-0.060 ( 1.42 %) |
||||
| Open | High | Low | Volume | ||
| $3.80 | $3.82 | $3.73 | 3913253 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| PLS (ASX) Chart |