From 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...
Hi everybody. This is a chart showing you possible sell zones and buy zones due to resistance that we have encountered before and support which is the .618 fib level.
The price action is moving in a pennant since 29 Aug 18 which is getting squeezed.
Now the price line hits the 200MA resistance, pivot 1st resistance and the pennant's resistance.
If we take the complete pennant in fixed range of volume profile then it can be easily seen that sofar the trader's interest in this area is less.
Moreover the price action has formed a...
Really not liking this weekly chart. Gap down outside of the support line and well below the 30 week WMA. Still 4 days in the week but if it stays outside of the trend line I think it's only down from here and possibly last time above $70.
If we continue to trade in the channel we may continue to go lower and find a bounce in the area suggested(possible end of ABC correction) and that will be the sign of a trend reversal, however a breakout to the upside out of the channel could also dictate the same, would like to hear thoughts.
Chart has notes
Bet it doesnt stop next time it pauses on support
Too slow for me but entertaining all the same
See tls.ax for a similar slow death, now in recovery
- Just a simple observation, price is bouncing around the level.
- Looking at it , it has gone up for a 2 month period then down for a 2 month period.
- Looking to go LONG , on the DAILY . So possible 6% growth by 2019 .
What do you guys think? Just by looking at the chart on the daily ?
Commonwealth Bank of Australia is a provider of financial services, including retail, business and institutional banking, funds management, superannuation, general insurance, broking services and finance company activities. The Company's segments include Retail Banking Services, which provides home loan, consumer finance and retail deposit products; Business and Private Banking, which provides banking services to relationship managed business and agribusiness customers; Institutional Banking and Markets, which services its corporate, institutional and government clients; Wealth Management segment, which includes platform administration, and general insurance businesses; New Zealand, which includes the banking and funds management businesses operating in New Zealand; Bankwest, which offers a range of deposit products, and IFS and Other Divisions, which includes the Asian retail and business banking operations.
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CBA
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