no way did they cover / close out. the pattern was not showing any sort of change in direction if anything they have been extending their short position.
there is going to be some very very very very nervous boys and girls who hold these 1.3m short positions as market will instantly burn their positions into greater losses (remember vast majority of 1.3 mil is already at 5 -30% loss,. . stick on re rate when reopen and they are feasibly at 50% plus loss and just like shorters love to hit triggers on downside they will then be forced to cover because they will be hitting loss triggers so will need to be buying . .. short answer is the shorters are going to be smashed .massively imo.
Short data on WBT, page-147
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Last
$2.40 |
Change
-0.120(4.76%) |
Mkt cap ! $459.0M | |||
| Open | High | Low | Value | Volume |
| $2.52 | $2.52 | $2.40 | $828.8K | 338.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2141 | $2.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.16 | 13 | 1 |
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| Last trade - 15.59pm 18/07/2024 (20 minute delay) ? |
| WBT (ASX) Chart |