When negative news fails to reverse a bullish trend the uptrend will usually soon resume.
Todays action was very encouraging for the bulls as the bears failed to make any headway even though the report was slightly negative compared with the forecasts. The shorts are fortunate that there was no dividend announced.
The shorts are responsible for paying any dividend on the stock they sold short and haven't covered.
If management wanted to boost the stock price and pressure the shorts, announcing a special dividend at short notice would almost certainly start a short squeeze.
When negative news fails to reverse a bullish trend the uptrend...
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Last
$3.11 |
Change
0.000(0.00%) |
Mkt cap ! $9.360B | |||
| Open | High | Low | Value | Volume |
| $3.13 | $3.18 | $3.08 | $89.18M | 28.54M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 940080 | $3.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.11 | 223576 | 6 |
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| Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |