Subscribers know that we are looking for a test of $30 by ANZ into its forecast 75c fully franked May dividend but we felt the view needed a little perspective after this month’s 13% recovery by the stock from its low:
- MM remains bullish ANZ looking for a test / break of $30 into its forecast 75c fully franked dividend in May, still 10% higher.
- However the stocks already run hard in March hence from a risk / reward perspective, at least for the next 1-2 weeks, we wouldn’t be chasing it aggressively above $27.50.
- Importantly as the yield curve flattens we can see the banks struggle in H2 of 2022, especially after their stellar performance year to date.
MM is bullish ANZ short -term
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