The volume is very low and short sellers are very active. The volume is so low that shorselling can account for nearly 50% of the regular hour trading volume. When IGO went under 7 last time, the short selling was really huge so I guess the shorts who were to lose a lot of money are doubling down to sell it under 7 again now. Unless they can break the share price under 6 and persuade the instutution to dump, they won'r be able to cover and get profit. As soon as they cover the stock price will just shoot up like crazy. The news cycle is likely sending the share price up any way. The shorts are banking on people panic and sell to get out.
I feel that there is nothing to worry about. Just keep accumulating slowly and the price will be good in 12 months down the track.
New all time high, page-452
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Last
$5.13 |
Change
-0.050(0.97%) |
Mkt cap ! $3.899B | |||
| Open | High | Low | Value | Volume |
| $5.15 | $5.22 | $5.10 | $4.812M | 922.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 15370 | $5.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.13 | 6148 | 6 |
View Market Depth
| Last trade - 11.24am 18/09/2024 (20 minute delay) ? |
| IGO (ASX) Chart |