For what it’s worth, I think nab wbc and anz will see $12 by June July, I see there asset write downs continuing especially with Aust property prices falling sharply, credit squeezes on families, remember a lot of households have there debt leveraged to their past income and now they are ‘receiving’ less than half the average wage per fortnight. Many won’t get their jobs back when this is all over as companies will run leaner meaner and tighter than ever before to try and repair their own balance sheets. The impacts won’t fully be known until well into 2021, and many companies won’t survive and many more won’t be what they were ever again.
Might be luck to get cba in the $30’s as well. Dont be fooled by this run up, it’s now happening without the full extent of the economic impact known, I expect a retest if the lows in a few months and that will be the time to start with an entry point.
not held yet but will be soon enough
WBC Price at posting:
$16.27 Sentiment: None Disclosure: Not Held
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