Shorts are up. We can expect the drive down to continue, BUT......if the sales are up and it is announced in Nov, there will be a covering bloodbath. I suspect that covering will start in the last week of October as the nervous shorters start exiting.
The other thing is that 23M shorts have been held for quite a while, before the last remaining gap, I have wondered when will these be covered. I suspect the drive down has been to cover this gap, (all you chartists say it must be covered), at which point the short holder/s may cover. If they decide to exit and cover all 23M we could see a very quick vicious drop designed to get below their cover price with a large volume, designed to look like a massive sell when it will actually be massive buy. After that it will start its move up again.
My opinion only, DYOR.
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Last
$6.90 |
Change
0.110(1.62%) |
Mkt cap ! $4.988B | |||
| Open | High | Low | Value | Volume |
| $6.81 | $6.95 | $6.81 | $15.85M | 2.295M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 10249 | $6.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.91 | 12797 | 4 |
View Market Depth
| Last trade - 16.10pm 22/05/2024 (20 minute delay) ? |
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Last
$6.90 |
Change
0.110 ( 1.41 %) |
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| Open | High | Low | Volume | ||
| $6.82 | $6.95 | $6.82 | 767787 | ||
| Last updated 15.59pm 22/05/2024 ? | |||||
| A2M (ASX) Chart |