Bendigo and Adelaide Bank (BEN) shares are down a further 2.7 % after losing a whopping 4.4 % yesterday.
In addition to general weakness in the banking sector, shares of BEN are feeling the fallout from alleged accounting discrepancies from their reverse mortgage division, Home Safe.
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From a technical perspective, the next significant level of support will be found around the August 8th lows of $9.75.
We would urge caution to investors considering buying BEN above the $10.00 handle.
Bendigo and Adelaide Bank
