Not necessarily.
There's likely to be all sorts of 'hidden' and conditional orders which will suddenly start appearing once the price starts going up and volume starts increasing.
For instance, with 9m+ shares traded on 1 April, the price didn't even hit $1 by close of trading.
Institutional traders usually have to run through several cycles of buying, offloading, buying, offloading, most likely on a daily basis to be able to gradually move the price.
Most importantly sentiments need to be aligned i.e. majority buying / going long with minimal shorting.
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Last
2.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.889M |
Open | High | Low | Value | Volume |
2.8¢ | 2.8¢ | 2.8¢ | $8.34K | 297.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 165150 | 2.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.9¢ | 304864 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 165150 | 0.027 |
4 | 242500 | 0.025 |
3 | 166720 | 0.024 |
2 | 270000 | 0.023 |
2 | 145450 | 0.022 |
Price($) | Vol. | No. |
---|---|---|
0.029 | 304864 | 1 |
0.030 | 1118200 | 2 |
0.031 | 126391 | 3 |
0.034 | 88000 | 1 |
0.035 | 142000 | 3 |
Last trade - 15.04pm 26/08/2024 (20 minute delay) ? |
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ZNO (ASX) Chart |