ASX:BOQ

Bank of Queensland is rated a buy with the stop loss at $6.27

Bank of Queensland is under Algo Engine buy conditions.

Buy with a stop loss at $6.38

Bank of Queensland is under Algo Engine buy conditions.

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Bank of Queensland is under Algo Engine sell conditions.

BOQ has reported 1H22 cash earnings of $268m, supported by credit loss provision releases and one-off revenue gains. The underlying business reflected -5% profit growth and forward revenues in the next 12 months are forecast to remain flat.

Bank of Queensland is under Algo Engine sell conditions and we expect selling pressure to build below the $10.00 resistance level.

Short BOQ with stops above $10.00

Bank of Queensland announced 1H19 cash earnings of $167m which is below the downgraded guidance the company provided in February and 8% below the same time last year.

The result continues to highlight the struggles the regional banks have in the current environment.

An interim dividend of $0.34 was declared, which is a reduction from 2018 levels.

The chart below shows the Algo Engine sell signals in BOQ, starting in early 2018 at $13.00. BOQ now trades sub $9.00 and is likely to continue lower.