ALGO Update: Stay Short BOQ and BEN

The ALGO engine triggered a sell signal for BOQ on July 25th at $12.00, and for BEN on August 18th at $12.49.

Over the last two weeks, shares of these two regional banks have sold off less than the shares of the 5 larger domestic banking names.

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Over the near-term, we see that divergence fading and expect the downside momentum in BEN and BOQ to pick up pace going into September.

We have adjusted our target prices to $11.15 in BEN and $12.05 for BOQ.

Bank Of Queensland

Bendigo Bank

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