The so-called liquidation order refers to the huge amount of hands bought by a stock at its daily limit.

China stock market implements the trading system of daily limit. If the current price of a stock reaches the daily limit, no matter how high the purchase price is, it can only be closed at the current price. So many people will buy at the current price, that is, at the daily limit, so the stock price will not change. We will say that the stock closes at the daily limit, and those huge pending orders waiting to be bought at the daily limit are called liquidation orders.