Two charts this week illustrating that the “Big Four banks” are on track for new highs in the coming months – perhaps not CBA. Similar to gold we had the below chart for WBC in play throughout 2025 targeting new highs, a bullish read through for the ASX. Again we see no reason to deviate from this roadmap, especially as most US banks continue to shine.
- We are targeting new highs by WBC through 2026.
MM is bullish WBC around $39
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ANZ rallied strongly last week – it could already be off to the proverbial races with our target ~only 6-7% higher, nothing too sensational in this call.
- We are targeting a test of the $40 area by ANZ through 2026.
MM is bullish towards ANZ around $37.50
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