Does Suncorp show the key to reporting season?

Nicholas Forsyth

Market Matters

However it's the inference from the performance of SUN yesterday on our overall market that's catching our attention today, as reporting season looms - especially Commonwealth Bank (CBA) next Wednesday.

We have two initial points:

1.  SUN remains bullish both fundamentally and technically with our target a whopping 16% higher if the broad local financials can rally only half of this the ASX200 could be well over the 5750 level in 2016.

2. In the current market "not too bad" is a buy. This ties in with our current short term bullish view for equities with fund managers sitting on record cash levels searching for some value.

 
Suncorp (SUN) Monthly Chart – price target over $15.50

Register today and find out what this means for CBA’s results next Wednesday. Livewire readers can receive 14 days’ free access to our Platinum level membership by registering here:  (VIEW LINK)


Nicholas Forsyth
Director
Market Matters

Market Matters is an online investment and share trading advisory service designed for those that want to take their wealth further. We specialise in advice for active share market investors, including those new to the markets or those with a Self...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.