That depends what is your criteria for an S-chip and how you would treat it differently from a local business. The last time I said Straco was in a sense an S-chip, a few forumers strongly disagreed!
Looks like no BBs are collecting, buyers could be doing short-covering (those who have shorted at higher prices) and sellers are shortists. Looking at the trading pattern, it is difficult for share price to turn around, Probably will hit 38 cents again in less than two weeks and go below 38 cents.
Price will only see chance to turn around if the short-sell volume falls to below 20% for some time, or very positive news, or share price hit 30 cents.
In less than a week, today hit 38 cents but closed at 38.5 cents. Looks like my guess should be correct, going to go below 38 cents in no time.
FairPerson wrote: On Friday 05 Sept 14:
Total volume traded: 3,541 lots.
Short sell volume: 1,599 lots.
About 45% of the trade done are by short-sellers.
Looks like no BBs are collecting, buyers could be doing short-covering (those who have shorted at higher prices) and sellers are shortists. Looking at the trading pattern, it is difficult for share price to turn around, Probably will hit 38 cents again in less than two weeks and go below 38 cents.
Price will only see chance to turn around if the short-sell volume falls to below 20% for some time, or very positive news, or share price hit 30 cents.
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