Macquarie Group – Algo Buy Signal

Macquarie Group has sold off from $137 down to $114, following a software outlook for next year’s earnings.

Although it is unlikely they’ll deliver 17% EPS growth, it is probable that we’ll see growth within the 5 – 8% range, which will continue to ensure Macquarie Group’s shares remain attractive.

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We have the stock trading on a 5% yield into FY20.

Text from a post last month…. Allowing for continued short-term selling in global markets, we suggest investors add MQG to their watch lists and look for the short term momentum indicators to reverse high within the $116 – $120 range. 

We’re now at the point described above. MQG is trading at $114 and looks like buying interest will build near the current price level.

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