CBA - Commonwealth Bank of Australia

[helpme]

Why did Commonwealth Bank shut down India operations?

India is a huge country with lots of potential in future. Why did Commonwealth bank shut down Indian operations?

http://economictimes.indiatimes.com...own-india-operations/articleshow/53914526.cms

 

[qldfrog]

Re: Why did Commonwealth Bank shut down India operations?

India is a huge country with lots of potential in future. Why did Commonwealth bank shut down Indian operations?

http://economictimes.indiatimes.com...own-india-operations/articleshow/53914526.cms

Maybe because it has had a lot of potential for the last 200y?

 

[Value Collector]

Re: Why did Commonwealth Bank shut down India operations?

India is a huge country with lots of potential in future. Why did Commonwealth bank shut down Indian operations?

http://economictimes.indiatimes.com...own-india-operations/articleshow/53914526.cms

Maybe the same reason Woolies shut down masters.

Just because its possible to operate a great business in a sector (eg Bunnings), doesn't mean its easy for all who try.

Maybe the bank has decided to focus on another area where they feel they have a bigger competitive advantage.

 

[Klogg]

Re: Why did Commonwealth Bank shut down India operations?

Maybe the bank has decided to focus on another area where they feel they have a bigger competitive advantage.

Yes! Finally...

Having worked at a bank for over 5 years (I don't anymore), everyone was going on about the 'asian expansion'. Who cares about asia, focus on the market you dominate!

 

[Value Collector]

Re: Why did Commonwealth Bank shut down India operations?

Yes! Finally...

Having worked at a bank for over 5 years (I don't anymore), everyone was going on about the 'asian expansion'. Who cares about asia, focus on the market you dominate!

I see CBA as being very similar to the US bank Wells Fargo, Wells is probably the best bank in the USA and it focuses on the USA, the other large US banks have tried to invest internationally with limited success, but wells has pretty much stayed focus on the USA and its worked a treat.

 

[peter2]

Was that an earthquake? One of the pillars holding up the ASX has broken support.

I'm referring to today's startling news that the CBA has closed below a huge support level at $70.

I'm not going to use classic TA to project a downside target from the descending triangle pattern as it may panic some investors. Will the yield chasers be able to prop it up by the EOW?

 

[Porper]

Was that an earthquake? One of the pillars holding up the ASX has broken support.

I'm referring to today's startling news that the CBA has closed below a huge support level at $70.

I'm not going to use classic TA to project a downside target from the descending triangle pattern as it may panic some investors. Will the yield chasers be able to prop it up by the EOW?

View attachment 68055

Nice looking short setup if you are that way inclined. Minor bullish divergence means I have held back although I wanted to press that button!! Must keep to the trading strategy though. Maybe in a few days.

 

[peter2]

Know how you feel.
If CBA falls to where it could based on classic TA then the ASX must fall significantly also.

The other banks are looking much better. The best one seems to be ANZ at the moment. I'd be more concerned about the ASX as a whole if all banks where teetering on the edge of support at the same time.

 

[Triathlete]

If CBA closes below $69.12 then a short down to $63.00 could be on the cards....

 

[notting]

Looks like Goldman's are playing you guys.
In two days after it's fake break down it's gone from 6940 to 7160 about a 3.05% reversal on good volume.

Well, not exactly no-one. Goldman Sachs Tim Toohey reckons the speech RBA assistant governor Chris Kent delivered on Tuesday amounts to an explicit shift to a neutral policy stance.
Christopher Kent's (of the RBA) key remark was to flag "the abatement of those two substantial headwinds" and highlight that this "would be a marked change from recent years".

That's good for the financials

Goldman and Macquarie upgrade CBA, saying underperformance has gone too far

That's good for sentiment on financials

 

[Triathlete]

Looks like Goldman's are playing you guys.
In two days after it's fake break down it's gone from 6940 to 7160 about a 3.05% reversal on good volume.



That's good for the financials



That's good for sentiment on financials

What fake break down????...all it did was move closer to the 50% level of a monthly chart of the range between Sept 2011 to March 2015.That is why I had mentioned $69.12 as an important level .....this is basic TA.....

 

[ggkfc]

No analysis buy i think a correction is about to happen over the next few months, with a good entry point around 60

 

[Triathlete]

No analysis but i think a correction is about to happen over the next few months, with a good entry point around 60

Trade on what you see not what you think....is my motto and has served me well..

 

[notting]

What fake break down????...all it did was move closer to the 50% level of a monthly chart of the range between Sept 2011 to March 2015.That is why I had mentioned $69.12 as an important level .....this is basic TA.....

Not surprisingly it might surprise you the majority of people who play the market on a daily basis tend to base their moves, primarily on daily charts. Where CBA broke a strong support of $70 which also gave it a rolling year low and year low which statistically indicates it has a higher probability of going even lower.
That would be the thus far 'fake break down,' not yet out of the picture.

For a shorter, it's still looking juicy when this little run up looks to turn for a low risk entry, especially only being a month past its ex and running on Muppet tales.

Comprende? :freak3:

 

[Triathlete]

Not surprisingly it might surprise you the majority of people who play the market on a daily basis tend to base their moves, primarily on daily charts. Where CBA broke a strong support of $70 which also gave it a rolling year low and year low which statistically indicates it has a higher probability of going even lower.
That would be the thus far 'fake break down,' not yet out of the picture.

For a shorter, it's still looking juicy when this little run up looks to turn for a low risk entry, especially only being a month past its ex and running on Muppet tales.

Comprende? :freak3:

So at what price would you consider a short on CBA which is not a fake breakdown..???

 

[Toyota Lexcen]

I going to short if it gets back up to 78-80, Can you do it with betting agencies?

 

[notting]

So at what price would you consider a short on CBA which is not a fake breakdown..???

When it breaks the recent low again it would confirm the break.
But so far it's a fake and has reinforced support.

 

[Triathlete]

When it breaks the recent low again it would confirm the break.
But so far it's a fake and has reinforced support.

Thanks.....So that would make it $69.22 using the daily chart.

What I always like to do is bring across any strong levels from the higher time frames (monthly and weekly) and put them on the daily chart as it gives me a better understanding as if a price is likely to hold or not that is why I had mentioned that I would not look at any short until it closes below $69.12. I was actually expecting the bounce and so my CFD long Trade triggered at $71.40, looking for run up now towards $78.....Seems to be in a trading range of $70 - $79 only time will tell though...

 

[ukulele]

if you were a range trader over the past few months to a year would have been quite good. Seems everyone loves buying around the 70 value.

 

[Ann]

Not sure a short would be the safest bet here.

I have drawn a past successful swing trade which resolved right to the penny and another potential one just about to go. It looks like CBA will resolve at around $100 if there is an outward breakup.