elimb,
I feel hardly capable and won’t be until I can make up my losses by my own trading skills.
But I do think the price has been softened by shorters yes .
Also by current market ‘nerves’ which gives shorters a sense of security that no one else is buying.
Someone else could probably answer better .
My thoughts are based on this :
‘Short selling is a fairly simple concept: you borrow a stock, sell the stock, and then buy the stock back to return it to the lender. ... If the stock does indeed drop after selling, the short seller buys it back at a lower price and returns it to the lender”
https://www.investopedia.com/ask/answers/how-does-one-make-money-short-selling/
So I think all these shorters ( or The Shorter) are (is) taking advantage of the current uncertainty in the market to make money on falling prices. They reckon no one of any significance is going to be buying until the price finds a bottom or there is good news that turns things around and makes people see value.
And they are right .
So the price runs down to $1.78 (which - on the chart- looks like it is a tad lower than a horizontal line intersecting with the technical regression line established at a vertical intersection plumb-dropped from the recent (artificially created) high of $2.17. And how that works I have no idea).
Advantage shorter .
They would send it lower if they could .
The off market trades ?
But actually someone does want to buy and someone wants to sell too .
And they know ‘lower’ is ridiculous ..
So at this technical point (maybe) the price is too good to resist so an off market buyer steps in to secure a large bundle of shares from an off market seller .
If the seller dumped 1.4 million shares on thecasx the price would go back to 70c if the buyer asked for 1.4 million shares on market it would fly back over $2.
Advantage buyer.
Advantage seller.
And because at the end if the day volume is just volume the off market trades get bundled in with the rest so it looks like shorts were less than they actually were ?
The logical outcome matches what Saragian said on the charts thread - without specific bad news NWH is likely a buy at the same prices the off market buyer is getting shares at or lower if you can.
But without looking at my rather convoluted workings out we all already know this based on company fundamentals .
Cheers
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Last
$3.90 |
Change
0.050(1.30%) |
Mkt cap ! $1.574B |
Open | High | Low | Value | Volume |
$3.91 | $3.92 | $3.84 | $3.306M | 850.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 6791 | $3.89 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.91 | 14942 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5058 | 2.370 |
4 | 18795 | 2.360 |
4 | 37687 | 2.350 |
1 | 7879 | 2.340 |
3 | 24992 | 2.330 |
Price($) | Vol. | No. |
---|---|---|
2.390 | 11634 | 3 |
2.400 | 71958 | 7 |
2.410 | 16085 | 2 |
2.420 | 19941 | 3 |
2.460 | 816 | 1 |
Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
NWH (ASX) Chart |