Read this ... completely legal (what's more ASX promotes centre point trading to attract overseas companies to list which is why there are so many listed in Oz).
https://www.asx.com.au/markets/trade-our-cash-market/asx-equities-trading/order-controlsWhich includes ....Centre Point
Non-displayed liquidity matched at the mid-point or other permitted price step inside the National Best Bid and Offer (NBBO).
Dark Limits
Orders executed at any permitted dark price up to your order's limit price. Enables users to leverage price improvement opportunities within the NBBO.
Iceberg
A limit order in TradeMatch where only a portion of the total volume is displayed.
The big brokers understand all this and play the game accordingly. The "mums n dads" moan and groan but the system is established and legal ... so it's better to try to understand what's happening and play the game accordingly.
My feeling is ... ARU is near the top of it's likely shorts limit ... but it can get worse. But when this turns it'll be because of some FA announcement and the shorts will start to cover ... the fact that volume is drying up suggests the bot has to play with itself to create more shorts ... it feels like ARU is somewhere near an equilibrium in price ... just waiting for good or bad news or a macro market move.
ARU Chart Thread, page-2190
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 (20min delay)
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Last
17.0¢ |
Change
0.005(3.03%) |
Mkt cap ! $392.7M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 18.0¢ | 16.5¢ | $616.7K | 3.614M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5904 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 38574 | 3 |
View Market Depth
| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| ARU (ASX) Chart |