I managed to get my hands on some broker data.
If the source is accurate, then there clearly has been a massive jump in institutional buying.
- First screenshot shows the month of February 2024, before the price action became highly active.
- Second screenshot shows the month of May 2024, a time period during the active price action.
- Third screenshot shows the month of May 2024 plus 2 days forward looking, to see if the active buying was ongoing.
Looks like the institutions have taken a keen interest in KP2 shares. IMO, these institutions don't buy up for short term trades, they buy and hold for big gains over a set period of time (the buys are too big for short term trades). IMO, these institutions also buy up over many months in order to build up their position.
If so, IMO the active buying by institutions is only just beginning, and should continue, and even ramp up over time.
This also explains why the three markets (ASX, LSE, JSE) are acting in unison. It seems the same institutions are at play across all three markets.
DYOR. GLTAH.
Month of February 2024
Month of May 2024
Month of May 2024 (plus 2 days to see if the active buying was continuing)
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