Daily Murmur

by Gary Glover

We recommended BOQ to our broking clients on the 17/01/11 due to the fundamentals and technicals both supporting a strong bounce.  The three thrust low sideways pattern is a very bullish set up longer term.  All though we have had a nice bounce off that low this potentially has alot more in this so we recommend holding on for the longer term here as this should be only the start of a larger move.  $11.80 is the upper band resistance point but a move above this level longer term could see a rally eventually towards the $15-$16 region.  We should monitor closely but this trade has alot of potential upside so don't be too quick to sell into this current rally.


Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?