I am guessing there were some looking for CE mark announcement and they may have taken some profit when that didn't materialize. Also the shorts seem to have been working at keeping the price in check (which we can all agree has had a good run in the last six months) and that may have encouraged some to sell with a near term view.
I have graphed the days to cover (also correlates to # shorts) against price and it has been inching up for a while. The days to cover indicates the short risk as the number of days it would take at average trade volumes(over 30 days in this case) to cover the outstanding open positions. The rising risk to short positions, while still relatively low is saying that the short thesis is gaining traction - but they are playing with fire methinks.
Also the graph showing # shorts V price for last 3 months.
The fact that the price has been so resilient tells me the support at these levels is very good so I am happy to hold my trading parcel for a while longer and my long term stash until my kids go to uni.(they are 10 now)
IMHO and DYOR
GLTAH
I am guessing there were some looking for CE mark announcement...
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Last
$2.32 |
Change
-0.020(0.85%) |
Mkt cap ! $1.602B | |||
| Open | High | Low | Value | Volume |
| $2.35 | $2.37 | $2.30 | $2.354M | 1.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11423 | $2.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.33 | 8018 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| PNV (ASX) Chart |