One thing to consider is if there was 180m short on this then they need to cap it to cover their positions.No point chasing it when you have the algos to hold it down.
Also the deep pocketed instos who want into this would be trying to help these shorters and cap it too. Why would they want to chase it when they can use the shorters to help them accumilate.
Whatever the case maybe volume is always the key and if either of those parties want decent parcels then the volume will tell us. No volume and they just get frustrated and at the end of the day something has to give so if the fundamentals are strong enough, the handbrake will come off at some stage. When who knows ,could be days, months or years but volume will be the key.
In recent trading days this stock has gone up on increasing volume and drifted on ever decreasing volume.
One thing to consider is if there was 180m short on this then...
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Last
$7.75 |
Change
0.030(0.39%) |
Mkt cap ! $7.244B | |||
| Open | High | Low | Value | Volume |
| $7.71 | $7.81 | $7.63 | $12.03M | 1.561M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6556 | $7.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.77 | 3385 | 1 |
View Market Depth
| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |