In my previous trade post i went into some detail about the inflation cycle and the prospect of Australian banks being able to churn more revenue due to higher rates which will be explored down the track.

in this current phase i am simply bolstering my positions with a pyramiding method to grow my current holdings in Australian Banks. 

in ANZ's case from a technical perspective, price is nearing a long term support line in a n uptrend which provides a reasonable place of entry that allows a tight stop placment. 

As for a target i am aiming for price to match and reach the previous swing high in the $29 range, at least for the moment, though i do anticipate price to go further over a mutch longer term view.

ANZ Long

Mar 23 2021

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