Our ALGO engine triggered a sell signal for BOQ into Friday’s ASX close at $12.74.
The technical “lower high” price structure is related to the November 30th high at $13.20 and the November 1st high at $13.40.
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BOQ raised $350 million from its Capital Notes offer in late 2017 after strong investor demand for the offer saw it increase from $325 million.
This corporate action saw the share prices post a mild rally before sliding down to $11.72 on February 8th.
We expect the next resistance level near $12.90 before trading back below $12.00 over the next few weeks.
Bank of Queensland
