What you're missing here is that the 3.5% shorter is one entity (possibly contribution by EUROZ as they gain some KPI over the quiet period after fronting up the capital for the raise), and the shorter is also an interested party that will be required to buy back their position.
I.e. the closing of the short will correlate with buying volume as it's the same event.
The easiest wins are made when price is comfortably consolidating at support, at a very low valuation in comparison to it's 12-month projected growth (anywhere from 50,000 patient subscribers with 6 refills to 90,000 patient subscribers with 12 refills - whereby the minimum price target is 60c and the highest target could be north of $1.80 over the period) and a decent percentage short, small enough to close out over 5-7 days volume,
which is easily done at 50-60 million short shares, over 7 trading days at 20m shares (slightly above average volume) would be what I expect to see at the start of this Rally, with price moving from 30c to 38c which is the average price of the short contract (if you average out the short volume build up over the price of the stock over the period).
After 38c it's new volume, interested party buying the stock.
So 38c coming up to the announcement 31st July Beyond 38c after 31st July, toward 60c.
Thanks, S
BOT Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)