I briefly posted some information last week about, what I believed was some unusual "sell" orders, but wanted to explain it in more detail, so here goes.
The graph below it represents IMU trading on 25th November, (ASX & CX) It shows volumes vs time with prices in color. This is the day that the shares went from a high of 14 cents down to 11 cents on close. So we are talking about a downward trending day, meaning that sellers dropped to meet the buyers bids, with a churn of 86,998,120 shares in total for the day.
There are three major sell down events as you can see from the graph below.
Shares traded around 13.5 cents until 11.08 am (24,558,332 shares in total), then at precisely 11:08:05 am 3,055,500 shares sold in 50 separate orders down from 13.5 to 13 cents (I hardly think that 50 people decided to sell down at precisely 11:08:05, rather I believe just one entity with over 3 million shares in 50 separate parcels).
For approximately the next 2 hours, shares traded mostly at 13 cents until 12:56:36 when again 6,035,451 shares were sold down from 13 to 12.5 cents in 91 separate orders, again what are the odds that 91 sell down orders were placed at the same precisely the same time by different people?
Trading continued for the next 2 hours with smaller volumes around the 12.5 cent mark, then at precisely 15:33:17 pm 7,445,543 shares sold down from 12.5 to 12 cents in 149 separate orders! (what are the odds?)
The rest of the afternoon trended down to 11 cents with no major interventions, but rather an accumulation of 21,115,707 shares between 11 and 11.5 cents, I'm guessing some stop losses within in this band as well.
For me this is telling a very clear message, but I will leave it to others for comment.
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Last
5.6¢ |
Change
0.001(1.82%) |
Mkt cap ! $411.5M |
Open | High | Low | Value | Volume |
5.5¢ | 5.7¢ | 5.3¢ | $731.7K | 13.32M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 580359 | 5.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.7¢ | 686331 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 580359 | 0.056 |
15 | 1342805 | 0.055 |
9 | 734375 | 0.054 |
9 | 3805521 | 0.053 |
18 | 1535537 | 0.052 |
Price($) | Vol. | No. |
---|---|---|
0.057 | 686331 | 5 |
0.058 | 1249150 | 9 |
0.059 | 191714 | 3 |
0.060 | 1632398 | 13 |
0.061 | 791000 | 5 |
Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
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