Well today is one possible target.
If it just keeps rallying on momentum then could get up to $157 next I guess. It's purely momentum at this point - no fundamental basis at all.
Regardless of the price it gets to you should be selling into whoever is buying the day before results.
MQG has traditiionally traded on an average annual PE of around 12. Today its trading at 18. What's more its guided that its EPS will be lower again this year than what it was last year while the share price has rallied more than 11% beyond what it was the last time it reported earnings that saw a 17% fall in the share price (from the most recent low its rallied 32% on negative earnings growth). They guided that their FY20 results would be lower than their FY19 results as recently as a few weeks ago and that was prior to the full impact of the coronavirus being evident.
Well today is one possible target.If it just keeps rallying on...
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 (20min delay)
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Last
$183.83 |
Change
-4.170(2.22%) |
Mkt cap ! $70.40B | |||
| Open | High | Low | Value | Volume |
| $187.10 | $187.69 | $183.36 | $175.3M | 950.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8 | $183.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $183.97 | 4944 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$183.52 |
Change
-4.170 ( 2.58 %) |
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| Open | High | Low | Volume | ||
| $184.50 | $187.68 | $183.38 | 144706 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| MQG (ASX) Chart |