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CBA

Elliott Wave in a chopping situationI think I can see Elliott Wave pattern but not sure how it's going to happen in current market situation. I think the trend is still upwards (which is great) but for next few days price will swing between support & resistance 72.300 and 74.50. since today's run was reasonably good after 5 days of price correction. I would be keeping an eye on tomorrow's market situation especially how it opens and closes. I think we should expect next bull run soon.
ASX:CBALong
by AsimMirza786
1
good support at 72.300As I noted in my previous idea, that it's going to get support at 72.300, which it is getting at the moment. As it can seen in hourly chart. At this point it is still in upwards channel but it it falls below support level it can possibly fall below the up trend channel and come down below 72.00. with current market sentiment it's bit difficult to decide to make a trade. I think I will wait see see how it looks like at market closing. Please note these are my own notes for my reference and by no means trading advise to anyone. please do your own research before entering into any trade.
ASX:CBA
by AsimMirza786
3
CBA.ASX finally giving inFrom everything I’ve read over the years commonwealth bank has been a widow maker for many traders looking to short. I almost bought some $65 put options earlier this year which would have expired in October. Lucky me! Any way, looks like this may finally be it. To me it looks like a big tripple top has been out in here. With the real estate market in Australia easing up a little and commbank being so heavily exposed to the housing market any dip will ravage them. Keeping in mind we have a prime minister who has taken a page out of draghis book looking to do what ever it takes to keep the Aussie housing bubble blowing. Circled in green are our three tops. It’s also important to note the 200 weekly MA has just punched through the 20MA. There are also two lower lows as valley between our tops. A break below $70 will be the final bell.
ASX:CBAShort
by MadButcherWA
CBA - Time for an accumulation?The price has been falling since early 2017 from the peak around $88.00. This drop has been a "healthy" one as we are seeing this as a correction for a longer term accumulation to the upside. Some quick fundamentals to support the upside - 1) Revenue has been increasing for the past 5 years; 2) Net income has been increasing for the past 5 years; 3) Dividends have been increasing for the past 5 years; 4) FCF has been fluctuating up and down, but has greatly increased for the TTM; and 5) Net margin has been increasing for the past 5 years. On the technical side of analysis, $66.50 to $68.62 present a very decent area for accumulation, potentially towards $75.59 and $77.23. We are looking at this setup as a potential dividend play trade as well, which mean we are interested to hold on to this trade for a longer term. **This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach. The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
ASX:CBALong
by KarYong