Very interesting as 100k buy is not something ordinary retail traders can do. Also interesting thing is there were 2mil stock changing hands after 4:00pm close. Usually, it is 10%-20%of daily trades but yesterday was about 70%. 3mil vs 2mil. Maybe a few retail traders form a strong resistance. Us also traded 1.5 mil Wds overnight vs 900k daily average. Hedge funds rebalance their positions depending on sp trending and/or options expiries. Last a few spikes high were coorelated to AusSuper, Blackrock and state street buying in 2024. But all have been pushed backed down by hedge funds due to the major cash acquisitions. If buy side are retail traders, then selling side like hedge funds could continue to short. There are 2.2% short positions in the latest asic report. To max the profit, they will try to push down further. But you r right, if it is not bottom, it won’t be too far.
WDS Price at posting:
$24.06 Sentiment: Buy Disclosure: Held
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