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.
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Like to hear opinions about the short-term future of pls....
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Last
$2.84 |
Change
-0.130(4.38%) |
Mkt cap ! $8.550B |
Open | High | Low | Value | Volume |
$2.86 | $2.91 | $2.84 | $43.32M | 15.11M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
32 | 456378 | $2.84 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.85 | 101000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 451378 | 2.840 |
19 | 557106 | 2.830 |
24 | 288599 | 2.820 |
23 | 147126 | 2.810 |
113 | 565085 | 2.800 |
Price($) | Vol. | No. |
---|---|---|
2.850 | 101000 | 2 |
2.860 | 243859 | 7 |
2.870 | 69739 | 4 |
2.880 | 280225 | 4 |
2.890 | 33141 | 6 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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