Australian Stock Exchange has underperformed most of the other financial on the ASX200 over the last 12 months. It has fallen out of favour along with most of the other global exchanges.
The present yield and the near monopoly position that it enjoys makes it worthy of having a good look at it.
The present technical chart on the stock is very interesting. After such a protracted downleg and the consolidation that the stock has been subject too, a move above the $37.00 to $38.00 level could set it up for a very solid run over the course of the next 12 months. The solid consolidation basing pattern is a very good sign for the stock going forward.
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