It's not short covering, there has been relentless pressure on the sell side for a month with people selling to take up their SPPs. That stopped on Friday with the closing. They popped a bit on Friday and will keep doing so now that that selling pressure is gone. If only 15% of holders sold $5000 worth each then 6000 shareholders sold about 40,000 shares each for 240 million shares over 20 days or about 12 mill shares a day, just for the SPP trade. The share price HAD to be demolished over that period and HAS to pop once that period is over.
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short covering rally under way ?, page-3
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Last
$6.41 |
Change
0.040(0.63%) |
Mkt cap ! $5.991B |
Open | High | Low | Value | Volume |
$6.45 | $6.49 | $6.40 | $13.34M | 2.079M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 13384 | $6.41 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.42 | 13471 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 13384 | 6.410 |
2 | 12123 | 6.400 |
4 | 37833 | 6.390 |
5 | 22824 | 6.380 |
6 | 10221 | 6.370 |
Price($) | Vol. | No. |
---|---|---|
6.430 | 7812 | 1 |
6.450 | 500 | 1 |
6.460 | 14808 | 3 |
6.470 | 14342 | 2 |
6.480 | 11442 | 2 |
Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
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LYC (ASX) Chart |