CBA - Commonwealth Bank of Australia
- Thread starter stefan
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Make that down over $3!
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Cautiously short @ 77.60, stop @ 80.00
Garpal Gumnut
Ross Island Hotel
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I only trade long.
I got out yesterday, with good profit and my divvies.
I cannot see much upside for CBA atm.
It may retrace to $60 , perhaps slightly more.
Decreasing volume on the increase over the past year is apparent on this 10 year chart.
I'll be watching the RSI for a pause and possible move up again at $70
gg
I got out yesterday, with good profit and my divvies.
I cannot see much upside for CBA atm.
It may retrace to $60 , perhaps slightly more.
Decreasing volume on the increase over the past year is apparent on this 10 year chart.
I'll be watching the RSI for a pause and possible move up again at $70
gg
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It is still looking quite weak on the chart I think. The last few days action isn't too flash. We'll see what happens if any news from the US hits but otherwise I think there is more downside potential.
I got short at around 78 I think. I'll hold this one for a while if it continues down.
I got short at around 78 I think. I'll hold this one for a while if it continues down.
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Out yesterday at 74.50. Too much uncertainty now. Happy to be on the sidelines.
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Monthly chart showing a very bearish looking hanging man...
I suspect CBA may almost be due for a correction. Would be interesting to see how it pans out over the rest of January.
I suspect CBA may almost be due for a correction. Would be interesting to see how it pans out over the rest of January.
tinhat
Pocket Calculator Operator
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I regret not buying back in at c.$65 last year. I imagine a catalyst for a correction might be signs of inflation and expectations of interest rates going up (perhaps even US bond rates going up - the "taper" of operation twist). Otherwise, I can't see a reason why the price wouldn't support a yield of 7% fully franked.
I agree, there is nothing on the chart currently suggesting a major correction. IMO price will range between $74-$80 for a while with maybe a test of support at $70 occasionally but overall the chart still looks quite strong to me. I see no real reason for holders to exit yet especially considering the decent dividend yield it provides year after year.
I currently see more strength at the $70 support then weakness at the $79 resistance, even the support at $74 looks okay. My current view is we will see it break and hold above $80 before we see it break and hold below $70.
Taking short term shorts at around $78-$80 for a quick trade might be a decent strategy, trying to pick longer term corrections is fraught with danger imo. The chances of a v type reversal with this stock are very minimal.
tech/a
No Ordinary Duck
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Nothing?
Weekly chart with some support from the daily
for a topping wave 5 pattern.
Click to expand.
Weekly chart with some support from the daily
for a topping wave 5 pattern.
Click to expand.
Does anyone have any explanation for end of day 20 December 2013? In the last minute of trading volume spiked to over 2 million or a bit under half the previous days trade in less than a minute. It was over 357 trades with the average trade being about 430k. Retail traders didn't cause 154m dollars to hit the market like that nor did 357 people in a single minute on holidays decide to grab 430k in cash and invest in CBA.
Interestingly, 2 million shares were sold at just 1 cent each the same day in just three trades. It looks like it was done overnight. It might be options or some sort of other weird rights. Any ideas?
I am more interested in why so much money entered the stock that day. Someone very big was up to something. The question is whether they were buying or selling. All of them were purchased for exactly $75.93 too which is odd. Why would this happen? It could be options again. Then the question is was someone forced to buy or was someone forced to sell?
Source of all data is Iress.
Interestingly, 2 million shares were sold at just 1 cent each the same day in just three trades. It looks like it was done overnight. It might be options or some sort of other weird rights. Any ideas?
I am more interested in why so much money entered the stock that day. Someone very big was up to something. The question is whether they were buying or selling. All of them were purchased for exactly $75.93 too which is odd. Why would this happen? It could be options again. Then the question is was someone forced to buy or was someone forced to sell?
Source of all data is Iress.
So you would sell based off that chart? I wouldn't but I also wouldn't be buying either. I still see nothing that indicates a major correction at this stage, more likely sideways action for the next few months.
What would you do if someone put a gun to your head and told you to choose where this will be in 3 months time. I would short under those circumstances.
Tech/a what's the deal with that blue line? It doesn't even touch anything. Neither does the middle line. The red line is a trendline but what are the other two lines for? If you tell me they are trendlines I may have to shoot you
I am the arbitrary lines on chart police.That's the thing with the stock market you don't have to do anything if you don't want to, not taking a position is the best position sometimes.
This stock might set up for a short trade as there are signs some of weakness but at this stage there nothing for me to justify a short trade. Anyone who has been holding this stock for any length of time would also not be in any hurry to sell considering the decent return they get just off the dividends.
Trembling Hand
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The day before, 19th, was All Equity Index and Individual Equity Derivatives expiry. That includes options but more importantly futs, It would of been an arbitrage unwind. More than likely a non directional bet. So not much can be read into it. And of course there wasn't just 1 buyer but also an equal and opposite seller so if it was a directional bet its a simple coin toss who will be the winner. So again there isn't anything in it?!
tech/a
No Ordinary Duck
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Lower high.
Rolling over.
Not a good thing for this stock
Rolling over.
Not a good thing for this stock
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Told a friend to short this a few days ago.
Will continue to watch broader markets also in conjunction with it.
Trembling Hand
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Hasn't made a lower low though. It has made a few lower highs on the looong up trend but - the trend is still intact.
