I would love to see that but I doubt it. WBC is coming out of possible bottom set last Thursday. It might fall back and prove that the low of 20.36 was not the real bottom. The closing date of the buy-back is the 17th. So, we have 5 days between the 13th-17th to get the VWAP buy-back price. That will start next Mon. That is when the price might jump. I wonder if one should bet on this and start buying slowly this week.
The short interest for Friday was 462,354. This shows that the shorts are now very hesitant to play knowing they could be burnt badly. If many of them decide to cover before 17th Dec, the share price will be boosted strongly. They might wait until Mon to see what the market action looks like.
I feel that we may see 21+ next week. However, getting from 21 to 22+ is going to be a slow path. I feel that NAB and ANZ might even slip a bit and WBC will close the gap slowly. I just do not see WBC catching up with ANZ and NAB any time soon. I know that many are laughing when I am talking about a stock moving only 1-3 points over weeks and months when they can play tech stocks that move 10% a day
But these people don't know that when big money gets invested into a blue-chip, it is not like putting a few K into a volatile tech stock purely for gambling purpose. We are talking about near 100% chance of winning even though it means waiting for 2-3 months.
BTW, beware of the possible war over Ukraine, US debt ceiling and technical default, massive inflation pressure in the US and Australia and all over Europe and another possible SCOMO election win and his big mouth offending our largest trading partner, China.
(20min delay)