PLS 2.96% $4.18 pilbara minerals limited

PLS short-term outlook

  1. 821 Posts.
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    Like to hear opinions about the short-term future of pls. Shorters have driven the share price down with bot and cross-trade sales from $5.70 to $4.88. They must be ready to cover now so they can return shares to lenders and keep their profits.
    Next objective is for the lenders to get the share price back up, again using bots and cross-trades so they can protect their capital investment ahead of the next round of shorter lending. Such a win for them to accept 1.4% lending fee on 6% of 3 billion shares for 30 days, knowing the value of their shares will be quickly restored because of the strength and performance of PLS.
    It appears shorters found themselves competing with retail at the bottom of their cycle, so to avoid a short squeeze they briefly ran the share price down further to scare off the mums and dads.
    Good news like year end, healthy bank balance, Posco joint venture and pending dividend of 22-30 cents per share throw optimistic uncertainties in front of investors.
    My guess is that the SP will quickly rise to around $5.70, then drop 22-30 cents after ex-dividend trading halt for say 10 days before resuming a rise to a new high.
    Crystal ball time - how to pick when to buy the bottom after the dividend announcement.
    Last edited by MrKeb: 09/07/23
 
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Last
$4.18
Change
0.120(2.96%)
Mkt cap ! $12.58B
Open High Low Value Volume
$4.13 $4.20 $4.11 $86.61M 20.81M

Buyers (Bids)

No. Vol. Price($)
11 1408666 $4.18
 

Sellers (Offers)

Price($) Vol. No.
$4.19 165878 22
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Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
$4.18
  Change
0.120 ( 3.20 %)
Open High Low Volume
$4.12 $4.20 $4.12 4580071
Last updated 15.59pm 03/05/2024 ?
PLS (ASX) Chart
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