On Runprofits, there is a short squeeze scanner which uses technical analysis and daily short interest data to identify price breakouts under shorts. This brief article highlights a few recent prospects triggered by catalysts.. Given the recent rally in UK equities a number of shorted shares are showing positive price momentum - short covering of some of these may boost the moves further.
Table below summarises these with a couple of examples highlighted for Asos and Kingfisher both of which reported this week and surprised the market - plots of short interest from the FCA does show some initial short covering in these names
on the catalyst off results Tuesday - see RPG Ones to Watch Here which beat expectations - price gapped above 21EMA and 50 MA resistance on high volume - a breakout gap. Into resistance around the 200MA (red line in chart ) around 387p - a clear and close above this level on volume is bullish the breakout with resistance up to 400p and 440p
Checked back to the 50MA yesterday - see chart and bounced offering an entry point at 381p
Short interest update from yesterday does show some short covering - Detailed Short Interest Analysis with Historical Price plots under Short Interest on the homepage
which started multi day breakout with a bullish check-back to the 200 and 50MA with bounces before closing near the high Monday - continues to rally forming a bull flag into resistance to the Jan '24 high around 250p - likely to clear this and continue breakout - see chart
Boohoo BOO also showing short covering though no catalyst as yet to validate a short squeeze
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Shorted Shares on the Move : ASC, PFC, KGF, BOO
On Runprofits, there is a short squeeze scanner which uses technical analysis and daily short interest data to identify price breakouts under shorts. This brief article highlights a few recent prospects triggered by catalysts.. Given the recent rally in UK equities a number of shorted shares are showing positive price momentum - short covering of some of these may boost the moves further.
Table below summarises these with a couple of examples highlighted for Asos and Kingfisher both of which reported this week and surprised the market - plots of short interest from the FCA does show some initial short covering in these names
see the short Trade Ideas under RP Trader here
<click on images to make fullscreen>
Asos ASC Reported Tuesday 26 March 24
on the catalyst off results Tuesday - see RPG Ones to Watch Here which beat expectations - price gapped above 21EMA and 50 MA resistance on high volume - a breakout gap. Into resistance around the 200MA (red line in chart ) around 387p - a clear and close above this level on volume is bullish the breakout with resistance up to 400p and 440p
Checked back to the 50MA yesterday - see chart and bounced offering an entry point at 381p
Short interest update from yesterday does show some short covering - Detailed Short Interest Analysis with Historical Price plots under Short Interest on the homepage
KGF Kingfisher Reported Monday 25 march
- see RPG here
which started multi day breakout with a bullish check-back to the 200 and 50MA with bounces before closing near the high Monday - continues to rally forming a bull flag into resistance to the Jan '24 high around 250p - likely to clear this and continue breakout - see chart
Boohoo BOO also showing short covering though no catalyst as yet to validate a short squeeze