NAB advanced +0.7% on Wednesday, taking it within 1% of a fresh all-time high, a summit CBA already climbed yesterday. Remember, the 15 brokers who cover the stock have zero buys on CBA while NAB only enjoys 2 buys from 15 calls – the market remains universally bearish on the banks. We can see NAB pushing into the $36-7 region and may trim our position accordingly.
- NAB may stall as it pushes to new highs, and we may trim our position at that point – MM is long NAB in our Active Growth Portfolio.
MM is bullish towards NAB medium-term
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