RE: April’s RNS23 Mar 2023 09:43
Steve, you're correct it is the psychology. However, my mind is not made up depending on whether the target is higher or lower than my buy price. I think pretty much all brokers have a bias. For the shorting institutions, as the price is falling, they will instruct brokers to set high price targets so that retail buy the stocks they're short selling. Then when the price hits rock bottom and these shorting institutions start to switch to the buy side, they instruct to set very low price targets so that they can buy the same shares from the same retail, but at rock bottom prices and at a massive loss for the retail investors.
Obvious to some, and I have a strategy of trying to buy in when the prices are at rock bottom and broker targets are set low.
Steve I have a sneaking suspicion you are working for one of these shorting institutions and are currently unwinding your short and accumulating a long position. Time will tell of course.