stacking the big or offer with way out of the money bids or offers with absoltley no chance of being hit or filled is not stock specific to AVZ. I can post many examples across many stocks
they, brokers can place these orders. they do it with the express purpose of holding a share up from collapse when they are on the bid way way way off trading price or to drive a price down if they are way way off on the offer........by doing this the buyers VS sellers look way more giving an impression that there are many buyers and strong support for a company, or way more sellers and way way more sellers wanting to get out.
At the current time, the offers that are so insanley out of the money are imo to make the sellers look like they are lining up to get out. one reason,,,look at the spike late FEB to latest release off accumulated short positions,,2.5 to 4.5 to now 9.2M ish......
This is fuel imo and this sort of trading is to gflush out inexperienced people who think they are trading with a limited static market depth, becasue if you have live feeds , you see all the orders..
Anyhoooooo, I like this sort of thing as it helps me assess what is actually going on in trade.
Given the accumulated shorts from a little while back at 9.2M ish, it doesn't take much at 18-20 cents for a new investor wanting a position to put pressure on the short side.
It takes time, but with so much proven R and R, two offtakes eclipsing local producers here already and more to come......cant complain
So stacking the offer here with offers that will never
get hit making buyers VS sellers appear more unbalanced
and reason....imo
protecting a recently built short position approaching 10M
anyway good luck
AVZ Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
