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Shorted Shares on the Move

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

 

 

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