Magellan Financial Group – Buy Signal

Magellan Financial Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

Following a sell-off that started in late July, MFG has now corrected 20% and we see buying support building near the $48 – $50 price level.

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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
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks