It's actually a rather bullish signal imo - the reason for phantom sell orders (well out of range) is usually to create the impression of a large sell side, keeping the price down, whilst a buyer accumulates at lower VWAP.
I wouldn't worry so much about price at this moment - rather look at volume and at RSI which all indicate to me that the stock is in much demand. It may drop in the short term but there is a lot of accumulation going on by those who are not panicked by cyclical moves - all imo.
Iron ore price, page-39392
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Last
$16.12 |
Change
-0.010(0.06%) |
Mkt cap ! $49.63B | |||
| Open | High | Low | Value | Volume |
| $16.30 | $16.35 | $16.00 | $142.8M | 8.831M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 18592 | $16.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.14 | 3138 | 1 |
View Market Depth
| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |