Short BEN.ASX (update)
Following the short recommendation on the 1st of June and our $9.10 target, it’s worth highlighting that Bendigo Bank hit our target (traded down to $8.91) two weeks later and a profit of over 10% in less than 10 trading days. Bendigo has now bounced and traded back up towards a sell price that puts the short trade back on our radar again, however, until the broader market indices rollover, we’re not focused on new short positions just yet.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks