MM views on ASX
“Hello James, your thoughts on ASX please. The price has declined to its support line on technical analysis and its yielding 4.1% grossed” – Indran.
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Answer
Morning Indran,
The ASX has pulled back over 20% but it’s still enjoyed a mighty run over recent years, its all about timeframes. The ASX is basically still a monopoly which has delivered strong earnings / dividend growth over the last 10-years, post the GFC, which has seen the stock appreciate accordingly. It may not be the most exciting stock in town but with a projected 3.5% fully franked yield the shares should be well supported into any weakness under $70.
MM likes ASX into weakness under $70
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