Pride Holdings Group (PHSE)

[Gallowayja]

ASCM is the most popular market maker for shorting stocks and create a scare when there in the ask and can. be a resistance level. ASCM often appears on very volitate stocks that made a nice move and ASCM looks to short for the price per share correction. When ASCM appears on the bid side close to the price level it means they're covering their position. In order to cover they need to buy back the shares they shorted so it often provides an area of support.


Here's a link that explains market makers in more detail

https://www.coursehero.com/file/p4cd7t3/Level-2-A-trading-service-consisting-of-real-time-access-to-the-quotations-of/


Credit:
Buckstopshere