The ASX website is showing a very small cover this week
430,000 shares covered .
The change showed shorts reduce from 10.191million to 10.148 million shares on by the end of the week.
The challenge for the shorts is the sell side volume does not allow much more than 500,000 per week to cover without having to much impact on the share price.
Shorts need a few red days , not green days on the ASX
I think we may see a 5-6% rise to a $12.00 share price on Monday given the strong US market on Friday night and the likelihood there will be another 400,000 odd shares tying to cover on a daily basis .
If people think 400k per day cover expectation , you need to consider that a full cover on that basis would take 25 trading days
Shorters, page-3
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$12.75 |
Change
-0.010(0.08%) |
Mkt cap ! $1.248B | |||
| Open | High | Low | Value | Volume |
| $12.86 | $12.87 | $12.64 | $350.9K | 27.60K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 363 | $12.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.75 | 89 | 2 |
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| Last trade - 12.53pm 07/10/2024 (20 minute delay) ? |
| MND (ASX) Chart |