Technically Bap looks to have 20% upside. Plus solid fundamentals to add to the story.
Key Technicals - looking to buy on breakout of ascending triangle with above average volume. Or throw back of breakout.
Key Fundamentals - Growth internationally (TYE SOON aquisition) + New & used car demand remains strong, we are moving around differently than pre covid.
Note: Commbanks household spending intentions series suggests the wealth effect from rising dwellings should be bulllish for motor vehicles moving forward.
With that in mind, i'm watching closely, particularly, the BAP investor day that was postponned from june to July.
We may see a BAP upgrade at some point much like BKW who had/has a very similar chart and is benefiting from the same sort of economic tail winds.
www.commbank.com.au/...ding-intentions.html
Key Technicals - looking to buy on breakout of ascending triangle with above average volume. Or throw back of breakout.
Key Fundamentals - Growth internationally (TYE SOON aquisition) + New & used car demand remains strong, we are moving around differently than pre covid.
Note: Commbanks household spending intentions series suggests the wealth effect from rising dwellings should be bulllish for motor vehicles moving forward.
With that in mind, i'm watching closely, particularly, the BAP investor day that was postponned from june to July.
We may see a BAP upgrade at some point much like BKW who had/has a very similar chart and is benefiting from the same sort of economic tail winds.
www.commbank.com.au/...ding-intentions.html
