MEK Broker Data

MEK Broker Analysis
I opened a position here on January 8 following the bonanza grade announcement. Posted it on Twitter but forgot to share here. Here is my post for reference

Also, recently came across a very positive Morgans report:



Let's analyze the broker data to see who's been driving the price action and the source of those large sell orders many have noticed recently.

Starting with a 6-month high-level view - Top 2 buyers are retail brokers:CommSecCMC Markets



Here's the accumulation chart for 4 retail brokers combined (CommSec, AIEX, CMC Markets, and WealthHub).The trend clearly shows who's been pushing the price up:



Top sellers include Citigroup, Euroz Hartleys, and Shaw:



However, the accumulation chart gives us a clearer picture of timing and volume:While Citigroup is the biggest seller, their selling occurred back in November 2024.



Looking at the other three sellers:Since the January 8 announcement, Euroz Hartleys has been the most active seller - likely responsible for those large sell orders we've been seeing.




Another interesting perspective: This chart shows collective accumulation by 7 investment banks (Citigroup, J.P. Morgan, etc.).Notice the pivot in the accumulation chart since early January:




I entered on the news reasoning that the drilling results exceeded expectations and professional investors who were selling previously would return. So far, momentum looks strong with price breaking all-time highs and Morgans setting a $0.23 target.