Commonwealth Bank of Australia

ASX:CBA

Commonwealth Bank of Australia

ASX:CBA
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$159.03 (+1.8%)
Last close price
#228
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3
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Forum Topics CBA CBA Bear Case

Pinned straw:
Saiton
Added 4 months ago

Hi @Rick, You peaked my interest as I gave up on Banks long ago. I used to be in one of those period where they didnt move and just went sideways. I now can see why it has moved to where it did (the good old 200% wvae 5). I also think the Analyst's just put targets in using fibonnacci number as they always (and I mean always) seem to land on a mix between Fibonacci levels, Support /resistance levels & sma's. Personally I like the $87 market.

Did some quick figures on it since listed on the market, it has gone up by x23.67 (from $5.66 ---> $134), in 32 yrs just on growth inc the 2008 crash & covid. So could have done even better if added more during those times and none of that includes Dividends or fully franked. Personally I would never have guessed ( i should have though, they are strong).

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Rick
Added 4 months ago

@Saiton “the good old 200% wvae 5” …and I thought fundamentals were tricky! ;) What are the technicals telling you from here?

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Saiton
Added 4 months ago

From the technicals point of view, its saying its topped out on the Stochastics for 1 day, 3day, 1 week and 9 day time frames. That with it also being at the 200% Fibonacci level would tell me to get out. That said if you really wanted to hang out for more then you woud sacrifice some $ for the next drop on the daily time frame, watching between the charts and the stochastics resetting on the daily. If the daily stoch manages to reset and the price really didnt drop much then there could be a little more to go. If you hung out for the next drop and it climbed above th 200%, there could be the possibility it will go to the next Fib level. It really comes down to watching the Stochastics daily on the 30mins, 1hr, daily and watch how aggresive the movements are to get a feel for what may happen. Sound hard but with practice you see it quicker and easier.

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