If you look at the rate of short positioning as price rallied from early July, that rate quicken as the price rallied. As the price peaked mid-july and started falling, short positioning did not grow significantly. Without actual proof of who is actively shorting or hedging, it does "look" like a short squeeze as it rallied then profit taking on the way down.
If 3/4 of volume yesterday was shorted the laws of supply and demand should have pushed the price down aggressively but it didn't. Suspect it was holders hedging.
Look at 2ndAug when price was crashing through 85.5C support with 41% shorts, it would make sense that they were trying to break the technicals. Saved by the bell the next day on that DFS. ORE/GXY is under much heavier short attack helped by the li prices retreating.
It is also impossible to tell what is the net short position each day since they could also be churning through pip traders.
If you look at the rate of short positioning as price rallied...
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Last
$3.11 |
Change
-0.090(2.81%) |
Mkt cap ! $9.360B | |||
| Open | High | Low | Value | Volume |
| $3.15 | $3.17 | $3.06 | $206.5M | 66.15M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 212414 | $3.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.12 | 1870994 | 18 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |