Our ALGO engine has shown a sell signal for BOQ since August 31st at $11.50.
The share price got a boost at yesterday’s AGM trading up to $11.35 just after the FY18 NPAT data was released.
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However, as the trading day progressed, the lower margins on the current loan book combined with large software write offs pressured the share price back below $11.00.
We still prefer the short side of BOQ with a downside target of $9.60.
Bank Of Queensland
