BEN

0.34%

$11.64 bendigo and adelaide bank limited

Ann: BEN 2017 interim financial results announcement details, page-9

First 9 Last

Share
Profile

Follow
FlashInThePan

262 Posts.

3

18/01/17

11:46

Post #: 21969557
Share

Originally posted by 13th ↑

@FlashInThePan Iam not talking about past performance & for those that were able to capture the stunning run up, well done.

Iam talking about future expectations based on a few technicals - RSI, MACD, Bollinger Bands & fundamentals of BEN and the broader banking sector.

BEN following the pattern of the broader banking sector, NAB was first to show this, followed by the other majors. BEN being last to the party and playing catch up today off over -4% vs the other banks BOQ -2% and the other majors off around -1.2%. Iam looking for $12.00 as first stop on the way lower and possibly $11.00 if our market was to make a move below the 5,500 mark.

The first signal to look for is the stock trading back within the bollinger band, which BEN is now doing & confirming this today. Once we see the rally or sell off trade within 'normal' trading conditions, we often see a reversion to mean. The other divergence in trading pattern to suggest that a decline is coming, is that of the RSI topping out (took its time) above the 80 level and falling away, this also coupled with the MACD crossing over, also suggests a future decline in share price.

If we want to look at the fundamentals for BEN and the broader banking sector, BEN was trading on a P/E close to 16x vs the broader banking sector at 14x and the broader market at 17x, all of these well above historical averages. Is the sector in for a sustainable re-rating? I think not. It's fair to say that the run up of the broader market and the banking sector post Trump has been quite impressive, it's now time for the fundamentals and more importantly earnings to justify this move, which I believe is highly unlikely.

Analysts have been chasing their tails trying to justify prices rallying hard for the sector, however have only made small revisions (if any) to bank earnings mainly coming off the back of their future expectations for the US cash rate / yield curve.

View attachment 416510

Expand

Thanks 13th, nicely put. I will certainly take your views into consideration.

BEN Price at posting: $12.68 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

Tonight's US CPI data could set the tone for November. What are markets expecting?

SHN

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

NWH

NRW Holdings inks $109M deal with BHP for works at Jimblebar

ARB

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

ARV

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

OCT

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

RAG

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

IMA

Issues emerging as Australian companies tackle critical minerals challenge

There are more pages in this discussion • 29 more messages in this thread...

First 9 Last

Add BEN (ASX) to my watchlist

(20min delay)
Last $11.64		Change -0.040(0.34%)		Mkt cap ! $6.611B

Open	High	Low	Value	Volume
$11.67	$11.68	$11.61	$26.73M	2.301M

Buyers (Bids)

No.	Vol.	Price($)
1	4015	$11.63

Sellers (Offers)

Price($)	Vol.	No.
$11.67	7368	1

View Market Depth

No.	Vol.	Price($)
1	4015	11.630
1	7368	11.620
4	9284	11.610
4	9568	11.600
2	7454	11.590

Price($)	Vol.	No.
11.670	7368	1
11.680	9941	5
11.690	7368	1
11.700	7368	1
11.740	16473	2

Last trade - 16.10pm 11/10/2024 (20 minute delay)

BEN (ASX) Chart

Ann: BEN 2017 interim financial results announcement details, page-9

Tonight's US CPI data could set the tone for November. What are markets expecting?

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Issues emerging as Australian companies tackle critical minerals challenge

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: BEN 2017 interim financial results announcement details, page-9

Top Stories

Tonight's US CPI data could set the tone for November. What are markets expecting?

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

Octava Minerals joins the antimony train with high-grades on the radar at Yallagong, WA

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Issues emerging as Australian companies tackle critical minerals challenge

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News