ABN
I think there are a few issues here that need to be looked at separately, (a) global financial markets, (b) charting, (c) Opes:
(a) The broader global market performance over the coming months be the over-riding consideration of whether ANZ breaks down below $20.
(b) I am not a fan of charting for blue chips stocks as their market cap. is so large any one particular price indicative theory has minimal influence.
(c) Opes will be but one (relatively small)influencing factor on the longer term price performance.
My opinion is that if ANZ breaks down below $20, it will not be because of Opes in isolation, rather issues such as a further weakening in the global financial markets as a whole compounded by domestic factors in general.
To be sure, local circumstances paint a pretty bleak picture for all of our banks. Expect to see greater provisioning etc.
At the end of the day the "mum & dad investor" will still buy ANZ (and the others) because they are viewed as blue chip long term investments.
which way anz shareprice on monday , page-18
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Last
$32.45 |
Change
0.820(2.59%) |
Mkt cap ! $96.64B | |||
| Open | High | Low | Value | Volume |
| $31.80 | $32.45 | $31.76 | $212.0M | 6.579M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7400 | $32.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.45 | 2602 | 1 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |