ralom,
my understaning is stacking the sell side may prevent buyers entering as it looks as though there are a lot of genuine sellers there which gives the impression the price won't move in a hurry.
Say someone (a big player) knew something about a value for money stock and wanted to accumulate as many as possible at a lower price, they have their buy orders in place and by stacking the sell side they may increase the chances of someone selling into it.
cap watch, page-8
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Last
11.0¢ |
Change
0.010(10.0%) |
Mkt cap ! $350.5M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 11.0¢ | 10.0¢ | $1.538M | 14.43M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 268799 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 5585591 | 46 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| PEN (ASX) Chart |