ASX 200 Market Internals:
By yesterday’s close, we had mixed feelings on the ASX 200 chart. On one hand, it is holding above 7,000 and produced a three-bar bullish reversal (Morning Star Reversal) above its 20-day eMA. Yet, on the other hand, it is struggling to re-test the February (Pre-pandemic highs) let along break above them. There is clearly a battle around current levels which can be frustrating for trend traders until a breakout occurs. But, with index futures, Europe and US broadly lower, we’re in for a soft open today. Although bears need to see a break beneath 7,000 before they can assume control.
Image source: Getty Images
At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.
This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.
With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:
Tassal Group Limited(ASX: TGR) is now the most shorted share after its short interest rose slightly to 9.9%. This seafood company has been targeted by short sellers due to weak salmon prices and concerns over the Australia-China trade war.
Airbnb predicts huge rebound, ASX travel shares in the hot seat
Kerry Sun | April 19, 2021 11:41am |
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Global accommodation marketplace,
Airbnb believes it will need to add millions of new hosts to accommodate guests as travel rebounds following COVID-19. Its positive view on the industry could spell good news for ASX travel shares.
Airbnb expects travel industry to bounce back
CEO Brian Chesky told CNBC, “I think that we probably will have a high-class problem where there will probably be more guests coming to Airbnb than we’ll have hosts for because … we think there’s going to be a travel rebound coming that’s unlike anything we’ve ever seen.”
Trashed COVID-19 vaccine targets hit ASX travel shares
Mitchell Lawler | April 12, 2021 3:50pm |
More on: Image source: Getty Images
ASX-listed travel shares are tumbling lower today after the federal government dropped Australia’s COVID-19 vaccine targets as further uncertainty permeates.
The recent developments cast further doubt on the timeline for full travel resumption. In reaction to the uncertainty, travel shares are losing ground in today’s trading session.
Latest COVID-19 development
It seems the turmoil experienced in rolling out Australia’s national COVID-19 vaccine program has taken its toll on the federal government. Issues with acquiring supply from overseas, along with heightened concerns regarding AstraZeneca’s ties to rare blood-clotting cases, have impeded the government in reaching their earlier set vaccination targets.