It refers to the maximum price people are willing to buy it for and the minimum price people are willing to sell it for when the market opens.
e.g. if someone has a buy order for 330, as long as the stock opens below 330 (e.g. open of 302) they will purchase it (at the open price of 302). Same with the sell order of 280, as long as it opens above 280 they will sell it (at the open price of 302).
ASX uses an algorithm with all these preopen buys and sells to determine the open price of the stock
This article helps explain it, I was wondering the same thing once i started investing 2 years ago.
https://rivkin.com.au/resources/understanding-the-asx-opening-and-closing-auctions/
It refers to the maximum price people are willing to buy it for...
Add CSL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$277.00 |
Change
1.500(0.54%) |
Mkt cap ! $133.8B | |||
| Open | High | Low | Value | Volume |
| $277.50 | $278.05 | $276.45 | $33.48M | 120.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 27 | $276.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $277.02 | 21 | 3 |
View Market Depth
| Last trade - 11.18am 07/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$276.59 |
Change
1.500 ( 0.40 %) |
||||
| Open | High | Low | Volume | ||
| $277.13 | $278.05 | $276.25 | 9747 | ||
| Last updated 11.37am 07/05/2024 ? | |||||
| CSL (ASX) Chart |