According to ASIC most shorted stocks list, ORE holds the crown as a leader. 21.52% of the float is currently being shorted and I stand to be corrected in case the figure is wrong. I am doing this analysis with the 3 box PnF daily chart of ORE as well as daily candle chart. Most recent basing pattern has resulted with an upside breakout with repeated PnF BUY signals. The strongest one was the TRIPPLE TOP BUY which coincided with the breakout ( zone of $3.20 which is now significant support).
What do a short seller see or use as a entry for their short is what I am looking for even with this daily ORE chart taking a short term view ? To be frank, I can’t spot one on either chart.
Looking at the OBV and RS at the bottom two windows of the candle chart, I can not see any weakness with either. Both confirming the bullish developments.
Lets take a count (second chart) to see how far the bullish move may take ORE as renewed buying emerges from short stops being hit as well as additional buying.
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