Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, I've just seen your text regarding MQG. Although "trimming" seems OK in the short term, the Fibonacci's reveal a breakout at about $182 level has finally broken after 4 attempts - where I recently topped up. On this chart, the $182 level has finally been broken, and I can't see anything to stop MQG going to an April / May high of about $205 - $210 medium term.
Hi John,
As we said in our note this morning like yourself “we wouldn’t be surprised to see higher levels in 2023/4.” However in our opinion the risk/reward above $190 dictates that we should trim our Growth Portfolios position from 7% to 5% i.e. we still want the stock to go up, we just have less conviction that before!
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