ADT Broker Data Analysis
A very nice setup forming here! I'm just watching for the channel break.
Let's look at the last month's broker data first.
Top buyers: UBS, Jefferies, JP Morgan
Top sellers: Goldman Sachs, IB, BTIG
Notable that the 4 major retail brokers are also among the sellers.
Now let's have a closer look at the accumulation/distribution dynamics to get a better picture:
Looking at the last year - top buyers are JP Morgan, UBS, and Canaccord.
Here are the top sellers.
Taking a separate look at retail brokers - CommSec and CMC Markets. There's a very notable pivot since Nov 2024 - essentially, retail investors are now selling more than buying. This means other investors - mostly professionals - are buying more than selling.
Here's another view showing combined accumulation by the 4 retail brokers (CommSec, AIEX, CMC Markets, WealthHub) - really shows that shift from buying to selling.
And here's the beautiful part - the combined accumulation chart for 7 investment banks (Citi, Goldman Sachs, Macquarie, Merrill Lynch, JP Morgan, Morgan Stanley, UBS) shows their holdings at a maximum for the last year.
Interestingly, while price has been in a sideways channel since November, investment banks have been actively accumulating.
This is a very positive sign for me. Timing-wise, I'm personally waiting for an upward break of the channel.
Bonus: Here's Morgans' view from Sept 2024. Likely to be updated very soon. TP 5.3.
DYOR.
(20min delay)