The BOQ appears to have delivered a failed dip to fresh recent lows – MM is looking for 2022 to produced plenty of failed break outs in both directions. BOQ is a regional Australian bank that’s also due to trade ex-dividend in April and all things being equal with its result the stocks forecast to yield 5% fully franked over the next 12-months, clearly attractive in today’s rate environment. We believe the stocks 23% correction is overdone providing some solid risk / reward buying over the months ahead.
MM remains long and bullish BOQ
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