CBA price action is displaying support at $70 level, but the weight of sell orders overwhelms buys by 2.5:1. It is now only a matter of time before the $70 psychological barrier is breached, and once it breaks the sellers will be scrambling to exit. Technicals are "neutral" to "weak sell" - no real direction here.
On fundamentals, I haven't seen anything to suggest the CBA is ready to address its poisoned internal culture, nothing to suggest there is a strategy to get in front of the (now near inevitable) collapse of domestic mortgage lending revs, nothing to address foreign currency denominated borrowing supported by A$ revs - these make up 40% of the loan book......... the obvious rejoiner being "they've hedged" - they might have partially hedged, no point in fully hedging otherwise you just pay away the arb - and in any case the only "perfect hedge" is in a Capability Brown garden..... all of this against a pretty weak economic backdrop domestically and internationally....
On the plus side, Eye of the Tiger makes a point.... there is money flowing in from super and it has to go somewhere....but the risk is to the downside - I'm still looking to test the 52 week lows between now and June.... and the more I look at the overall picture the more convinced I become.
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Last
$132.78 |
Change
-0.360(0.27%) |
Mkt cap ! $222.2B |
Open | High | Low | Value | Volume |
$132.60 | $133.10 | $132.27 | $150.0M | 1.130M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5567 | $132.78 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$132.80 | 1656 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5567 | 132.780 |
1 | 4000 | 132.750 |
1 | 1252 | 132.710 |
1 | 100 | 132.620 |
2 | 4110 | 132.600 |
Price($) | Vol. | No. |
---|---|---|
132.800 | 1656 | 2 |
132.850 | 2197 | 5 |
132.870 | 440 | 1 |
132.900 | 70 | 1 |
132.910 | 60 | 1 |
Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
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