Could be more downside for sure. Large volume yesterday with smaller than expected spread.. Same issue today. Still allot of selling. Maybe some of these shorts were covered as I believe somebody mentioned above.
I'm not sure how much this tells us, but I've taken a look at ASIC's short sales tables and the ASX daily short sales figures and charted them below. Keep in mind that I dont' have yesterdays figure so the data jumps from the 9th of May (Last Thursday) to the 13th of May (yesterday), but it gives some indication that short sales haven't exactly disappeared.
I've just used the percentage of total shares outstanding instead of whole figures. This will be slightly distorted if new equity was issued. Nevertheless, short positions have increased.
Feel free to add your own analysis to this as I may be missing a vital point here.
![](https://hotcopper.com.au/<a href="https:/imgbb.com/"><img src="https:/image.ibb.co/juqi5d/short_positions.png" alt="short_positions" border="0"></a>)
Could be more downside for sure. Large volume yesterday with...
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Last
$1.12 |
Change
0.020(1.83%) |
Mkt cap ! $3.001B | |||
| Open | High | Low | Value | Volume |
| $1.10 | $1.12 | $1.10 | $9.057M | 8.177M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5900 | $1.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.12 | 419172 | 13 |
View Market Depth
| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
$1.11 |
Change
0.020 ( 1.60 %) |
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| Open | High | Low | Volume | ||
| $1.10 | $1.12 | $1.10 | 1538547 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| AMP (ASX) Chart |