Technicals | Aug 19 2010
This story features COMMONWEALTH BANK OF AUSTRALIA, and other companies. For more info SHARE ANALYSIS: CBA
By Rudi Filapek-Vandyck
In addition to his positive view on CommBank ((CBA)) shares, see story published earlier today, the TechWizard reports he at present holds a positive bias towards Monadelphous ((MND)) shares.
The stock has performed well post the release of FY10 results, he notes. The TechWizard believes the shares are destined to test $15.15 and potentially the April high of $16.
As far as he is concerned, it's merely macro-concerns that will possibly prevent these targets from being reached.
The MACD indicator is bullish, signaling a buy the dips approach seems the most appropriate, he adds.
The TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au All views expressed are the TechWizard's, not FNArena's (see our disclaimer).
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For more info SHARE ANALYSIS: CBA - COMMONWEALTH BANK OF AUSTRALIA
For more info SHARE ANALYSIS: MND - MONADELPHOUS GROUP LIMITED