I haven't exactly sold out. I have sold about 50% of my holding.
As the shares were & are in my self-managed super fund, I have no capital gains tax to pay. My average purchase price was $54.20.
I am looking to buy back in at lower levels.
My initial target is to close the gap down to $128.54 with a possible further target of $124.80.
From an Elliott Wave point of view, if the 3rd wave ($116.64 - $128.68) has been completed & a 5th wave started at $124.35 then any extension of the 5th wave cannot go beyond $136.39 as this would mean the 3rd wave was the shortest of the 3 impulse waves & according to Elliott, this cannot be, which would then mean it would be a further extension of the 3rd wave with a target of $137.04.
If all 5 waves have been completed then we should look for a percentage correction of the entire move from $109.94 - $134.00.
Popular targets would be $128.32, $124.80, $121.97 & $119.13.
In a falling market, the above 4 prices are where support should occur.
The above is all theory but traders tend to follow technical levels.
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Is this the TOP??, page-46
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Last
$131.63 |
Change
-1.030(0.78%) |
Mkt cap ! $220.2B |
Open | High | Low | Value | Volume |
$130.86 | $131.63 | $130.40 | $504.5M | 4.019M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5713 | $131.63 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$131.65 | 169 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1375 | 131.610 |
1 | 1375 | 131.410 |
1 | 8189 | 131.400 |
1 | 10 | 131.140 |
1 | 1700 | 131.110 |
Price($) | Vol. | No. |
---|---|---|
131.650 | 169 | 1 |
131.680 | 200 | 1 |
131.700 | 210 | 1 |
131.790 | 300 | 1 |
131.800 | 1000 | 1 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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CBA (ASX) Chart |