What’s MM opinion on Westpac (WBC)
You have not commented on the reason for WESTPAC falling relatively much more than the other banks yesterday. Ross
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Answer
Hi Ross,
We touched on the movement in the banks / Westpac on Thursday morning, they are moving both up and down on apparent relatively large order flow. WBC has predominantly enjoyed the buying side of the equation over the last 3-weeks and I believe the move you are referring to is no more than a little profit taking in the midst of a strong bullish rally i.e. from $20 to $24 in under 4-weeks.
