Could be Elroy but I have never really understood how that...

Could be Elroy but I have never really understood how that works. If you place an order like that you have to accept the risk that someone may take it out.
Better, I would think, to sell into any rally in an effort to subdue it.
Still, if the intent of that order was to cap the price at 11 cents then it worked except that the capper did not come in and mop up the big sell order that subsequently appeared at 10.5 cents (perhaps they are from the same seller).
IMO there is much more interest from sellers than buyers at the moment and therefore no requirement to cap the price.
Looking at the charts, we might go sub 10 cents as early as tomorrow. I'll be looking for the buyers to absorb the pain at 10 cents and for the share price to rally (on decent volume) from there.

Please DYOR