The above post by @T.E.P is 100% correct. The data below is for CLQ trading on 3 December 2019.
Things of "interest" a) 68.4% of trades on that day were for <$500 in value and a massive 61.1% of trades on the day were for <$200.
b) 47 of 64 downtick trades (73.4%) were for less than $500 value but represented only 0.72% of the total value of shares traded on that day,
c) similarly 46 of 54 uptick trades (85.2%) were for less than $500, but represented only 0.67% of the total value of CLQ shares traded on that day,
d) the VWAP was steady around 21.5 cents until around 325pm , when volumes spiked and pushed the VWAP lower, (see red line on graph)
Most of the share trades occurred between 300pm and 400pm (around 1.6 million) and were BELOW the manipulated VWAP price.
I see similar patterns playing out daily on the ASX. The algorithmic/bot trades are moving price significantly ( as noted by the % of up/downticks), but are for very small $ values. That is, they are "tuned" for maximum effect on price for minimal $ value per trade.
Given that retail traders need to buy a minimum of $500 worth of stock in most instances, the nefarious influence of the algo systems on ASX share trading can hardly constitute a level playing field.
Check this link for more information
https://www.abc.net.au/news/2012-04-11/kohler-high-frequency-trade-parasites-at-heart-of-asx/3943052
See table summary of CLQ trade data from 3 Dec 2019 below:
Cheers,
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Last
63.0¢ |
Change
-0.050(7.35%) |
Mkt cap ! $56.84M |
Open | High | Low | Value | Volume |
68.5¢ | 68.5¢ | 62.5¢ | $30.12K | 44.96K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 61.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
66.0¢ | 8000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 430 | 0.680 |
1 | 2000 | 0.660 |
1 | 5000 | 0.610 |
1 | 1500 | 0.605 |
2 | 36500 | 0.600 |
Price($) | Vol. | No. |
---|---|---|
0.650 | 129 | 1 |
0.670 | 714 | 1 |
0.685 | 12000 | 1 |
0.690 | 8403 | 1 |
0.700 | 2000 | 2 |
Last trade - 15.51pm 08/05/2024 (20 minute delay) ? |
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Last
65.0¢ |
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Change
-0.050 ( 0.00 %) |
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Open | High | Low | Volume | ||
64.0¢ | 65.5¢ | 61.0¢ | 10696 | ||
Last updated 15.59pm 08/05/2024 ? |
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