“I’ve commented on Macquarie Group (MQG) a few times over the past year, identifying various buying opportunities,” Michael says.

“We still believe the stock can do well from here as it’s geared towards an improving global economy and a share markets.

“Apart from a brief breakout in October that didn’t follow-through, MQG has been range bounce since the end of September.

“We can also see that it has spent most of that time at the upper end of the range.

“Any dips were bought pretty quickly, and that was a positive sign.

“MQG now appears to be finally breaking out of this range (circled on the chart) and this is therefore a buying opportunity.

“If this sideways consolidation is now over, then we should see MQG continue on with its long-term uptrend for the next few months,” Michael says.

Macquarie Group (MQG)

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