The fact is that CBA is no longer a good stock to own as the yield on the current price is too low. As for buying it now, you would need psychic help as there is little to gain & far better prospects elsewhere.
Being able to lock in your profits & move on to other investments seems a good outcome.
The shares have risen nearly 172% in the last 4 & a half years to a point where they are no longer worthwhile keeping for the dividend & the significant chance of a major correction.
What, from now, is the upside potential? Do you really believe the yield will go under 3%? At 3% the price would be $155.00. A 4% yield would mean a share price of $116.25. Conversely, 3.5% yield gives a share price of $132.86. The latter would seem to be more realistic in the current circumstances, but a total market correction would bring it down even further.
Why then would you want to buy at close to $140 when a more realistic price is under $133.00?
CBA Price at posting:
$139.36 Sentiment: Sell Disclosure: Held
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