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.
short covering rally under way ?, page-3
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Last
$7.14 |
Change
-0.200(2.72%) |
Mkt cap ! $6.673B | |||
| Open | High | Low | Value | Volume |
| $7.34 | $7.34 | $7.13 | $39.28M | 5.467M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1546 | $7.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.15 | 72361 | 6 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |