Maybe because it has had a lot of potential for the last 200y?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
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 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!
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
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".
Goldman and Macquarie upgrade CBA, saying underperformance has gone too far
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
No analysis but i think a correction is about to happen over the next few months, with a good entry point around 60
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:
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.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?