Miners down. Materials down. BHP down, which often means traders selling off profits and buying into a tier 1. Divvys in 2 weeks. Oppies on Thursday. [I think? ]
HOWEVER, there has been a bit of activity in which I cannot seem to grasp, but think it's an algo type, trading behaviour.. As the price drops, ASK 'teaser' is put in under the last traded price. [.05] Usually 1 share. If the price holds, or moves up, it disappears. If the price drops, it reappears at the next lowest price. [and has done so since .65]
It LOOKS like someone selling into the bid , however it might be accumulating on the weakness down.
The buy/sell depths change little during the play, however I did see an ask bid of about 80 000 follow the line down, late on Friday.
Unfortunately, I just cannot pick a pattern, except it appears on every drop DOWN from the next higher traded price. .
There is a pattern of behaviour, and could be insignificant, so hopefully a more experienced trader knows what the true reasoning is...
...and by the way, it went back into my 50's channel, so am eternally grateful to those sellers. These wont be reappearing again, for some time to come.
MLX Price at posting:
58.5¢ 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)