Vanadis IPO, page-212

At each price level some will enter or exit. It is risky to push the SP through the low when significant news on several projects IS due. This is a level where investors and traders will enter. If they are happy to accumulate up to say 2.4c, they can manipulate the SP down as low as possible...some investors will place sells with the capper from 2c - 2.4c. As the sell volume builds, the capper pulls it's sells to the back of the sell queue and can at any time, pull it's sells, step up and take out the genuine sellers. This could also initiate a +ve move in the SP and an opportunity for more sell volume to appear. When investors see the SP at 2c they are tricked into believing 2.3-2.4c is a good exit. Investing and trading is about predicting the psychology of others in the market as much as anything. IMO