SG Warrants: Macquarie Bank still doing deals
Technical Comment – 6/7/02 - FROM SG
Not all banks are worth buying with Macquarie Bank still amongst the worst stocks in the local market. $26.00/25.00 is the unchanged target highlighted last month. The brief rally last month is seen as just that with the bearish weekly indicators taking over. This is a perfect example of the importance of the broader weekly charts. Trends on weekly charts are extremely powerful and often-minor signals on daily charts which are opposed to wider weekly signals, eventually prove to be false. Macquarie Bank should now take out the May $29.10 low.
MBL
macquarie bank limited
MBL - target $25???
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