But it seems the usual brave souls are shorting DXS with shorts ramped up from 1.3m to 3m by the monday report.
This is obviously an old recipe that brings in a few coppers: shorting a stock near a placement to push it towards placement price, but the days of this kind of play might be numbered.
It looks ST oversold to me, unless unbeknownst to all but the brokers a large shareholder is selling. This seems unlikely IMO as it has been high volume now for 8 days and no subs holder notcies.
It is 8% oversold over that period based on ~8.4% of issue traded.
As can be seen from the 10 day graph, most of the selling has been happening in the 73-74c range so it is bound to snap back, at the very least to that zone.
In fact DXS already staged an intraday rally today despite fresh shorting, and the players only managed to push it down in the afternoon along with the XPJ weakness.
DXS Price at posting:
70.0¢ Sentiment: None Disclosure: Held
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