Yes it can be played this way....if the market depth is shallow a large sell order can result in a larger fall in the price. The shakeout is designed to trigger stop losses, enabling them to accumulate more shares at a lower price. Than if they just tried to buy on market which would only drive the price up. If we look at the market cap and the volume, sales of only approx 16 Milllion dollars worth of share has knocked about 12 percent off the market cap.... which is hundreds of millions. There is a huge opportunity for arbitrage!
Ann: Extensive Ni-Cu Soil Anomalism at Julimar, page-191
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Last
$1.01 |
Change
0.023(2.27%) |
Mkt cap ! $385.1M | |||
| Open | High | Low | Value | Volume |
| $1.00 | $1.02 | 99.5¢ | $351.4K | 348.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 26818 | $1.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.02 | 2576 | 3 |
View Market Depth
| Last trade - 10.41am 05/09/2024 (20 minute delay) ? |
| CHN (ASX) Chart |