Years ago I purchased a data stream to analyse volume. I spent about $5k developing an algorithm and dashboard to analyse the volume. This was years ago before covid. All I learnt was that the top portion of orders (say five price levels) in both the buy and sell book was real, and the rest was bulls**t. Obviously each stock is different, so some have more real orders than fictitious.
EZZ is a bit of a rare case because they only have 44m shares on issue. So volumes are already constrained by the lack of shares. This is good for holders, as it creates scarcity of supply, driving up the price. In these conditions, volume analysis would be pretty tricky. More interesting would be just looking at the candles, as they should be hypothetically show more obvious market appetite.
EZZ Price at posting:
$2.59 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)