Macquarie Group Limited (MQG.ASX)

16 October 2018

Technical Summary: Both the five year and the one year chart of MQC shows that the stock is on a long term uptrend. Over this time the stock has been buyable in two situations, either on a breakout to new highs or on the dips. At the current juncture the stock appears to be providing investors with an opportunity to buy the dip. After forming a base between $120 and $130 per share the stock broke through its 50 day moving average and has found support around $115 per share. This makes the stock buyable and investors will be looking for a resumption of the trend.

Potential buy the dip opportunity for MQG

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