BEN rallied through the day while the rest of the banking sector struggled; even stalwart CBA was down 1.4%. We can thank the government for today’s move – “Bendigo Bank could receive A$200 million annually from a proposed new bank levy due to its outsized rural presence, according to Australian Financial Review — which would boost 2025 profit by about 22% and lift return on equity to 10% vs. last year’s 8%.”
- BEN has broken out above $13; as we all know, “the trend is your friend”.
Shawn Trading Ideas: Raise BEN stop from $12.38 to $12.66.
MM is bullish towards BEN
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