Technical Summary: The 5 year chart of ANZ has shown a stock that has largely moved sideways for investors. The stock is currently trading lower than where it was 3 years ago. On a 1 year time frame the stock was moving its way to 52 week highs in an uptrend before a significant sell off bought it back to earth. Savvy traders were able to get out of the stock has it broke its 50 day moving average. This would have avoided the worst of the decline. More recently the stock appears to be setting up for some more upside. Since bottoming it has been quite constructive and has made a series of higher lows. The stock also recently emerged from a short consolidation period. We would ideally like to see the stock travel sideways for a period before breaching the buyzone.