Absolutely - they're instructed to buy a certain number of shares at 'no higher than x-price'
Its usually a significant parcel (i.e. a parcel that will get them in to the top-20 & in most cases top-10 shareholders) and in order not to influence the price (as much as possible) none of their orders are ever in the market depth.
However, the behaviour is easy to spot.
I firmly believe at present there is one (or many) of these events taking place at 10c. Whenever the SP dips below or there is supply at 10c, it's snapped up very quickly from buy's which are not in the depth.
It will also be very obvious when the institutions decide there is no more stock available at their ceiling price & hence decide to increase their price. BC at this point, there will be a tsunami of off-screen buying up to that level.
ALC Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
