Saw a bit of this today. Very small sells,often seconds apart, with no change to the ask totals. Probably at market. Lots of sub $1 units, so you would think that it's broker related and not retail. All cross trades. I wish I could flog a share at around 3c a hit...
Each time however the bid side was reduced, AND at somewhat much larger amounts than shown on the screen.
Note also the bids at 70c being taken. Possibly just a market order , buuuut not quite sure.
So, I can't yet figure out if they are little sells used to trigger buys below the intra day high, or at market sells DIRECTLY to the bid line. Regardless, this has been going on for 2 days, so far.
Interesting, and to my thoughts, the rallies are again being sold into, as no activity at the 66-68c mark...
Far from the first time this has happened, so at least we know the behaviour and may be a repeat of a major holder offloading their holdings into the register.
I'm more than happy to be educated if it's a normal behavior though, as I have been stretching my brains in order to try and figure these patterns out!
MLX Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)