It's a liquidity hunt technique. Retail position stops around what they consider support and resistance and an operator moves price around to hunt out the liquidity (for a delayed bigger move generally).
It's not always the end of the world, but instead further analysis on larger timescales can indicate intent.
Running discussion on SP, page-12
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Last
$1.87 |
Change
0.050(2.75%) |
Mkt cap ! $353.2M | |||
| Open | High | Low | Value | Volume |
| $1.82 | $1.90 | $1.80 | $722.2K | 387.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10985 | $1.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.88 | 10033 | 3 |
View Market Depth
| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| WBT (ASX) Chart |