NVX 5.80% 73.0¢ novonix limited

The price drops because of the lack of buyers, traders then take...

  1. 1,348 Posts.
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    The price drops because of the lack of buyers, traders then take out short positions which shows up as "sells", this along with panic selling from nervous holders , drives the SP lower.
    This is the normal chain of events in any stock, if there's a lack of sellers, then the opposite occurs, the price rises, and shorts rebuy their positions as "buys", which drives the price up
    I hope this clarifies things a bit for people who consider that shares being shorted is manipulation, it's just the same as the stock being bought long, and the price going up, and is a constant cycle.
    A nice bit of support today, just hanging on by a thread, with an inside bar reversal occurring on the hourly chart, with a bounce to the upside, exactly what I hoped to see.
    https://hotcopper.com.au/data/attachments/2973/2973379-58a340d5ad1eb9b36fe0037ea43d9d62.jpg
 
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Last
73.0¢
Change
0.040(5.80%)
Mkt cap ! $359.6M
Open High Low Value Volume
69.0¢ 73.5¢ 68.0¢ $857.2K 1.192M

Buyers (Bids)

No. Vol. Price($)
1 57 72.0¢
 

Sellers (Offers)

Price($) Vol. No.
73.0¢ 11198 2
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Last trade - 16.10pm 26/07/2024 (20 minute delay) ?
NVX (ASX) Chart
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