Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by scientist, 6th Jun, 2018.
Why do people do this? See screenshot - taken 9 mins after market close.
you are looking at the closing price auction. the market closes at 2. for 10 minutes you can still place orders on both sides. In order to get in front of the queue on the buy side you can place an order above the last sale. At 2:10.01 there is a price match and all the remaining matching orders go through (see indicative price). that becomes the last price of the day.
see pre-closing price auction and closing price auction ASX trading hours
Ignore it, it just aftermarket adjustment, pre-open indicative price are also playing silly bugger with people bidding and pull out of trades and can be manipulated, don't pay attention to those, well you can have a look and get an idea but don't based your trade on those prices
pay attention when the market open and the real trade begins that when you know the true price of bid and ask and are real and not people playing silly bugger with large order pull in and out of the system
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