Big fan of the technical setup on MFG here folks. In summary, an oversold stock trading well below moving averages on all timeframes (including the monthly timeframe - MFG has never seen below the 100month Moving average until this past month). An excellent opportunity.
Here at key long term support levels which also intersect with the rising trend line dating back to 2015. The CEO news and weakening AUD has added to the downward pressure into these levels, but as many people have already pointed out you can't put a value on it.
The AUD is start to claw back some losses and I'll be taking a punt on the nice risk/reward here.
GLTAH
MFG Price at posting:
$28.87 Sentiment: Buy Disclosure: Not Held
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