RE: Edison's Viewpoint5 Sep 2024 10:13
At this point in the turnaround of the bank it’s much too early to speculate as to its SP in 3 months let alone 3 years.
However it certainly is moving in the right direction and shorts will be squeezed out and that will help break through resistance points as the share value increases.
This is almost like a new business and you certainly can’t look at any previous data with a thought that the SP will act in the same way as it did in the past. I do believe we could be on a tipping point with banks in general as although they will have a reduced margin as the interest rate drops in the coming months this in turn stimulates more customers.
There have been some chunky trades over the past few days that indicates we’re not the only ones following the rise of the MTRO phoenix.