MM flagged BEN in Shawn’s Trading Ideas this week below $12.50; hence, it was nice to see it close higher in a weak market on Wednesday. Although one day is far from confirmation, it’s on track to test our short term $13 target.
- We like the risk/reward towards Bendigo Bank (BEN) sub $12.50, targeting $13 with stops under $12.25, i.e. 2:1 risk/reward – stops may be raised on Monday. Very granular we know, but one for the traders!
MM is bullish BEN short-term
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