Why would a shorter stick that large buy there, it actually pushes the price higher, it creates demand. A shorter doesn't want demand when he/she is trying to cover their shorts. They don't want the price going higher, they don't want other traders scanning to pick up a rise and jump in for a ST trade, raising the price even more. They want the buy-side to look weak so sellers pile in.
However, someone drip feeding, distributing shares may do that.
They could place a high bid below the action, so anyone looking to get in, is forced to buy higher, they then drip feed small amounts of shares at that price point they want to sell at and they slowly get chewed away.
However, the truth is we will never know the validity of that 144k unless it is hit.
Why would a shorter stick that large buy there, it actually...
Add SPL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
13.5¢ |
Change
0.010(8.00%) |
Mkt cap ! $55.62M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 13.5¢ | 12.5¢ | $15.06K | 115.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 282111 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 35543 | 3 |
View Market Depth
| Last trade - 16.10pm 25/04/2024 (20 minute delay) ? |
|
|||||
|
Last
13.0¢ |
Change
0.010 ( 0.00 %) |
||||
| Open | High | Low | Volume | ||
| 12.5¢ | 13.0¢ | 12.5¢ | 63460 | ||
| Last updated 14.59pm 25/04/2024 ? | |||||
| SPL (ASX) Chart |