In market microstructure, the order book imbalance is but one parameter in predicting very short term movements in the mid-price. Most of the time, the imbalance is close to 50/50 and so not particularly informative on its own. I observed in the last leg down to the lows for PNV, that the imbalance was on the side of shorts day after day at about 60/40, simply confirming the overall bearishness imposed by short selling activity.
I hadn't opened my broker platform for a while, but today I noticed this, order book imbalance of 70/30 in favour of the longs. Extreme readings like this at any given moment can be telling, more so when its persistent such as it was in the recent downtrend... something to keep an eye on
Short Activity in PNV, page-3904
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Last
$2.43 |
Change
-0.090(3.57%) |
Mkt cap ! $1.678B | |||
| Open | High | Low | Value | Volume |
| $2.49 | $2.50 | $2.43 | $2.311M | 940.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 17100 | $2.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.45 | 5973 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| PNV (ASX) Chart |