I came across a scenario whilst watching the market where a company released some positive news after the market closed about their organization, news that typically would make the SP rise.
The market opened the next day and the SP didn't move at all, with no volume traded. After doing some analysis, I understand there was a seller next in line at the increment above where the SP was sitting who had an immense volume (something like 90m shares on a 1c stock) on a sell limit order.
Now, my question is, even if the entire package wasn't sold off at once, or even over a few days, wouldn't the price move to the next increment if people were buying small chunks of the order? Or, does the entire package owned by the first person in line have to be sold off for the price to move? Or, does a certain percent of the order have to be bought all at once to allow for a partial sale?
Thanks in advance