Post by
tobinator01 on Dec 02, 2022 1:13pm
Will they defend $3.73?
I have the Aris chart up. The stock has not closed over $3.73 since June 21st. I reported the short interest that increased to 848,000 shares, 3 days of average volume to cover, as of November 15th. The stock was trading around $3.50, so most of those shares are presently underwater.
There's a general resistance band from $3.70 - $3.90. Today we are going to see if those shorts are going to prevent a close over $3.73. If that price is not defended, they run the risk of smaller spec shorts starting to buy and push the share price higher. That may bring in bullish technical buying.
I think all this stock needs is a long fund to hit the ask for 500k shares and the short covering rally will bring us to the upper resistance channel of $4.
Comment by
tobinator01 on Dec 02, 2022 1:23pm
I just looked at the A series warrants (2 plus C$5.50 = 1 share, July 29, 2025 expiry). Someone is expecting a surge in the stock. 127,500 A series warrants were bought they are up 17% to 35 cents.