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IN REPLY TO A POST BY toilet, Wed 31/03/04 03:24pm

I think yes coming weeks it may, but for the shor term would you classify a minor double top from around the 16th and 26th. I would think a pullback to 18.70 before moving higher is highly likely.



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  • 2 months later...

ANZ looking strong over the past few sessions. 18.74 will be a test, though if it breaks through this we could reasonably expect $19 to be tested again in the near term.


A nice recovery considering the downtrend that was apparent from the end of April (exlcuding brief ex-run up).



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well this bank has underperformed other banks recently

not so sure why......

its currently the cheapest bank on PE terms.

well there could be a rerating and it certainly looks like its going up

but i just have a feeling that the markets are quite high at the moment


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Interestingly all banks are down today after UBS financial presentations.....I guess UBS sees the banking sector fully priced and perhaps there is a bit of worry about the impending rate rises, though I would have thought this was priced in by the markets.


For the money I see that over the last week the market has taken a priced in half point rise in the US and discounted it to a 1/4 point rise and that the AUST market is anticiapting a 1/4 point rise here as well.


Having said that the presentations from both NAB and ANZ looked good I have not had a chance to review CBA or WBC yet.

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Action around banks is very interesting indeed, especially ANZ.


Anyone have any thoughts or info what I may be missing here, as I see ANZ the best of the banks to be in.


NAB has had a nice pop at the end of the day.

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  • 2 weeks later...
Continued selling pressure being applied to this stock at the moment. Worth picking up at such depressed prices. The results will hopefully kick this one along and back above 18.50 where it should be residing (relative to peers)
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hmm i duno this one seems to be in a period of consolidation.....

like prob bounce around the $18-$18.50 level for while

until there is something to move it higher or lower...


i got bored of this one the other day and jumped off the boat...

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