Technical Analysis

Technical Analysis: We upgrade Macquarie back to a BUY as a quality diversified banking stock, we see value for medium-term investors, while on a technical chart it appears over sold below$170, where it tends to rebound like it has done so in June 2022, and September 2022 and with key support at $165.

Technical Analysis: Rio Tinto benefitted from strong iron ore boom, and trades in fairly volatile manner. Since the covid sell off its rallied to fresh highs and have been rangebound, being overbought and oversold multiple times, and see current levels (above $155) as an opportune profit taking opportunity and see downside risk from upcoming recession outweigh positivity setting from China reopen currently.

Technical Analysis: We see BHP shares rise strongly benefiting from multi-year rise in commodity prices, while volatility kicked in post covid as iron ore price surged to above $200/tonne mid last year, to more than halve in a span of 4-months.