Hi @Aljen888 ... " "looks unfinished" and "near completing a wave 3"." ... WHY? ... Well, I'm prepared to give the EWT/C(Elliott Wave Theory/Count) a go but stress, after years of trying to use it profitably on OZ equities, am convinced as a stand alone TA tool, its not reliable enough for me. INSTEAD, I prefer to use 'Wave Personality', that is Impulsive or Corrective.
As to your 2nd question ... "still so many short positions open considering the fundamentals going forward - it is a puzzle." ... I can only offer that if that is still the case(most shorting data is a week old) then someone is trying to cap this advance. Remember, PLS is in the Top200 so is more likely to be vulnerable to Short traders... Anyway, whilst percentage levels are a little high they are at/near yearly lows(see chart below).
PLS chart, page-624
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Last
$3.00 |
Change
-0.050(1.64%) |
Mkt cap ! $9.029B | |||
| Open | High | Low | Value | Volume |
| $3.03 | $3.06 | $3.00 | $41.07M | 13.59M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 97 | 622937 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.01 | 580 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |