If an indicator can be faked its not a good indicator.
I have personally seen buy and sell orders 10 million deep with 23 or more separate buyers/sellers appear and disappear in seconds. Often to come right back or go away seconds or minutes after they show up. Often on stock that is being pumped hard but not always so.
What makes you say it is a good indicator? For me it is as useless as a mornigstar valuation or number of shares on sale vs buy. If I can fake a buy order of 10million shares (not of PNV but some penny stocks) with my modest account why would I think instos or people with bigger accounts cant/wont do the same?
PNV - Chart, page-7479
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Last
$2.30 |
Change
0.000(0.00%) |
Mkt cap ! $1.587B | |||
| Open | High | Low | Value | Volume |
| $2.34 | $2.35 | $2.27 | $1.711M | 744.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 14000 | $2.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.30 | 13896 | 5 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PNV (ASX) Chart |