Sounds like it could be layering, It's time we started reporting this behavior to the ASX, its been going on way too long. If we all start emailing the ASX, they will investigate.
For those unfamiliar with layering, Layering is a market-manipulating tactic in which a high-speed trader places fictitious orders for a stock or some other asset in order to drive the price up or down, and then, if successful, makes the opposite trade.
The ASX claim to closely monitor this type of activity as its against the rules that markets are fair and orderly and free if manipulation, which layering is considered a form of manipulative trading by the ASX under Business Rule 2.2.4 – Prevention of Manipulative Trading.
CHN chart, page-3088
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 (20min delay)
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Last
$1.55 |
Change
-0.050(3.13%) |
Mkt cap ! $601.0M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.59 | $1.50 | $3.657M | 2.364M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1298 | $1.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.55 | 9737 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| CHN (ASX) Chart |