Like the major banks BEN seems to perform well technically. Might be worth careful consideration that it failed to hold above $8.34. Tried to break back through on the 3/10 and has now fallen away.
Many of BEN's regional franchises are going to be very hard hit by drought conditions if they continue particularly in rural Victoria - the farmers catch cold but its the towns that get the flu.
Having been through a few droughts in rural business the level of bad debts and defaults far exceeds anything seen in urban centres and BEN franchises seem to be picking up a substantial share of business in the towns they are in.
I wonder what the quality of this business is like ?
BEN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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