Textbook stop loss hunting

when we mention stop loss hunting, today's action is the precise definition.

the instos have access to data that shows the level that stop losses are placed

today it appears that there were a bunch of stop losses placed just underneath the open price, at 8.70.

so as they do the instos used their bots to drive down the price to this level:


this caused the stop losses to trigger and place the shares into the sell queue:



sure enough the shares were scooped up soon after, and a massive bounce from those cheap levels.

perhaps they were just traders with their stop losses there, but the lesson is that these instos are brutal and will stop at nothing to pry steal shares using their disgraceful tactics.