This also drives the price through most stop losses which should have placed some sell orders on the market. What is killing my theory is that the last trade was done at nearly 2pm which should have caused the frenzy soon afterwards.
The are simply trying to bring you down to their price by breaking the parcel on offer and hopefully putting you in a position where you may as well sell the balance to dilute the cost. The overall effect is to drop the price to their required level. This is most pronounced in highly illiuid shares. If they are looking to accumulate a position, the cost if of no significance to them in the long run. They are really not thinking about stops on a share that hardly trades.