Bank of Queensland (BOQ:ASX)
Technical Summary: The stock is trading below its NTA of $7.31. Since our last report on BOQ in May at $4.85 the stock is up 42% as of the last trading session where the stock last traded at $6.91. This is a very crucial point in the chart where the stock has broken the resistance at $6.80 and is trying to consolidate. As per our observations the stock can create a new entry point between $6.40 to $6.30. The prime support at $5.70 should hold strongly in case of any major pullback. Our focus is from the current level the stock can test the next resistance at $7.70 mark. We recommend our investors to stay the course and provide a HOLD recommendation at the current levels with a good entry point around $6.40. In the
longer term we see $8.80 will serve as resistance and a viable target for long term value investing.