MAY 0.00% 2.3¢ melbana energy limited

Ok look, don’t focus on the “1 share”, it’s part of a bigger...

  1. 9,690 Posts.
    lightbulb Created with Sketch. 3064
    Ok look, don’t focus on the “1 share”, it’s part of a bigger parcel….let’s simplify it….

    Share price closes at 12.75c being the mid point between 12.5/13.

    10minute closing auction begins and everyone is placing their buys/sells.

    Amongst those buys and sells we have a broker who has decided they want it to close at 12.5c, they’ve placed 100,000 on the buy side at 13c and 100,000 on the sell side at 12.5c, putting the total 13c buys at 150,000 and total 12.5c sells at 149,500 indicating a 13c close, because there will be a 500 share surplus of 13c buyers, or let’s call it “overlap” if that’s easier……we can leave out the back and forth matching during the auction and move to the close….

    At 4:10pm59sec the brokers algorithm removes exactly 501 shares from the buy side resulting in a 1 share overlap into 12.5c.

    Now obviously the size of the parcels are much larger to what I’ve set out above, but I tried to make it simple. The aim of the game is to give the appearance of sp weakness and play on the emotions of impatient holders, it’s about setting a narrative to continue their accumulation for the next day and so on…

    I hope this helps.



 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
2.3¢
Change
0.000(0.00%)
Mkt cap ! $77.51M
Open High Low Value Volume
2.4¢ 2.4¢ 2.3¢ $37.36K 1.616M

Buyers (Bids)

No. Vol. Price($)
12 2453145 2.3¢
 

Sellers (Offers)

Price($) Vol. No.
2.4¢ 2010466 8
View Market Depth
Last trade - 16.10pm 25/07/2024 (20 minute delay) ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.