Welcome to grade A accumulation by banks:That broker data above is the rectangle box highlighted below, as it takes 3 days for data to settle, we cant extend it to current day.
- The orange line is: Where banks have been selling to ensure the price drops back down to their accumulation range of 55-60c. This corresponds with arrows showing the very, very low volume it has required to push the share price down. What happens when more retail mum and dad traders start putting sell orders up to 60-63c? The green line and arrows happen:
- The green line is: Where banks are buying all these mum and dad traders shares, as shown by the sheer volume it corresponds with in each day of trade as seen with the green arrows - only for them to sell it back down.
- The grey line: Simply the ~average of the broker data above, where banks on average have bought their shares post merger.
Conclusion:Banks are buying WRM like crazy, controlling the flow of shares both before acquisition and after, at an average price of ~57-60c. What happens when newsflow starts and they are done accumulating?? They usually start letting it run, remove sell side pressure, and retail attention follows (mum and dad investors pile back in).
Thats why I believe WRM will be closer to 75c upon this deal going through, ~65% upside trade on AUL shares today via this arbitrage. Not financial advice, all personal opinion, seek a financial advisor, DYOR.
