Technicals | Jul 02 2024
Michael Gable of Fairmont Equities suggests Macquarie Group shares have laid the groundwork for the next rally towards a fresh all-time record high.
By Michael Gable
Volatility picked up in the local market last week after hotter than expected CPI numbers came through. However, the S&P/ASX 200 Index seems to be bouncing well off the lows.
Today we include a technical view on Macquarie Group ((MQG)).
Over the past several months, we have identified buying opportunities with MQG across November, February, and late April.
After retesting the downtrend line in late April, it bounced higher and the past few days has seen it take out the March high (circled).
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