Average Daily Share Volume
Days to Cover
Short interest has been dropping since Mid July at the expense of the Longs. The shorts have been dead on, but I guess SKUL might be due for a bounce in the coming weeks.
A big bounce would take to the 11.5 to 12 level, but the initial bounce might be to the $10 level. It has to hold 8.50 low from yesterday for the above to happen.
There has been 6 million shares traded since the 31st as well. I would guess that the shorts took full advantage of the earnings call drop and got out en mass. Question is how many jumped back in at 8-9 bucks a share???
Sentiment: Strong Buy
Shorts did not panic when the stock ran up from 12 -16.5, Why will they cover now? Unless they fell the downside is limited.