Buyers struggling to hold highs as sellers pressure price lower

Potential Sell Entry Alert to Watch ANZ

Time Frame : Daily/Weekly

Sector : Banks/Financial Services

Key Stats : $76 Billion Market Cap, VWAP 26.916, ASX Ranking 6, 4 Week Av Turnover $133,421,977, Current Turnover (Intraday as at time of alert) $34,662,209, PE 12.2, Div Yield 5.97%.

Company Overview : Australia and New Zealand Banking Group Limited (ANZ) provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. ANZ operates in Australia, New Zealand, Asia Pacific region, the United Kingdom and the United States. ANZ main business divisions consist of Retail, Private Banking (B&PB) business units, Transaction Banking, Loans & Specialised Finance, Markets, Commercial banking and wealth management services.

Broker Consensus : HOLD

ANZ – Australia and New Zealand Banking Group Limited

ANZ is showing early signs that buyers are bailing and jumping ship as price grinds lower. Expect the pressure to continue as global central banks cut interest rates and added to that the potential for another selloff in equities as trade wars continue. We are now watching for a lower high to build and a move down below 26.00 targeting initially 23.00.

Stock Code : ANZ – Australia and New Zealand Banking Group Limited

Company Website : www.anz.com

Current Price : 26.94

Status : On watch for potential lower high and push below 26.00