Company Overview: Macquarie Group Limited (ASX: MQG) is an Australia-based global financial services company in asset management. The company operates in retail & business banking, asset management, leasing & asset financing, wealth management, commodity trading, market access, renewable development, specialist advice, access to capital, and principal investment business. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.
Section 1.0: Key Metrics in Pictures
Having looked at the key financial ratios above the below sections provide an in-depth fundamental, and technical analysis on this one ASX-listed Financial Services stock with recommendations, technical support and resistance levels and indicative stop-loss.
Section 2.0: Macquarie Group Limited (‘Hold’ at AUD 189.88 closing market price per share as on 14 May 2024)
2.1 Company Details
2.2 Stock Recommendation and Valuation
The stock has witnessed a rise of ~1.7% in last three months, and over the last one year, it has increased by ~8.4%. The stock has a 52-week low and 52-week high of AUD 155.30 and AUD 200.25, respectively and is currently trading below the 52-week high-low average. MQG was last covered in a report dated ’20 November 2023’.
Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is May 14, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.