Can someone explain the rationale behind large trades sitting in the trading queue a couple of percentage points above and below the current trading price?
When I look at the trading depth page of my account on CMC there are currently two large trades either side of the SP. There is an unexecuted buy order of c.334,000 at $1.31 and an unexecuted sell order of c.341,000 shares at $1.37. Current trading is $1.335. Orders similar to this are there everyday and never seem to be filled. When the SP moves closer to one of these unexecuted trades the order is adjusted accordingly. Can someone please explain? As they are both almost identical they seem somewhat pointless...?
CHN Price at posting:
$1.34 Sentiment: Hold Disclosure: Held
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