The level of shorts was lifted around Easter as they drove the price down. With the price around 49-51 cents, the shorters have been gradually covering their positions. Occasionally extending their positions to hold the price down below 52 cents.
The price drop this morning was a gift to the shorters and there may have been some covering. (Nb. I took this opportunity to buy some more shares).
Overall however, at this rate, it would take a month or more for the shorters to clear their positions, so they don't seem panicked. Until there is sustained purchasing interest, the shorters can continue to hold the price down.
The level of shorts was lifted around Easter as they drove the...
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Last
$5.93 |
Change
-0.020(0.34%) |
Mkt cap ! $5.542B | |||
| Open | High | Low | Value | Volume |
| $6.04 | $6.04 | $5.93 | $23.75M | 3.975M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 128544 | $5.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.95 | 12481 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| LYC (ASX) Chart |