Broker data from 13th Jan - 20th Jan. Canaccord have net positive buy volume. Unlike Argonaut, UBS, Merrill Lynch and the other large instos who have been selling in large volumes.
This would support lower prices coming as retail think the 'bottom is in' (commsec, cmc, bell potter, IB).
Follow the smart money, not retail.
Latest broker data goes to 20th Jan. Next Monday we'll be able to see what the instos were doing this week. Good sign if they have been buying back their positions throughout this week, otherwise likely expecting it to drop further and buy back from retail when they sell on fear.
IMO DYOR
LRV Price at posting:
67.0¢ Sentiment: Hold Disclosure: Held
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