From a charting point of view, it would appear that CBA is trying to make a double top around $138.24. If that is the case it would be forming a flat correction with an obvious initial target being a double bottom around $124.89.
There is also the possibility of a running correction where the B wave exceeds the previous top before reversing in a C wave.
Be aware, the share price will reverse at some point & it is just a matter of time. Selling beforehand, locking in the profit would appear the most logical way to go.
Those who have a capital gains tax problem should check their portfolio for other stocks that have significant paper losses & sell them in this financial year to minimise or even eliminate paying capital gains tax. If you still wanted to keep those shares showing a loss, they can be repurchased & still have the benefit of offsetting capital gains.
From a charting point of view, it would appear that CBA is...
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Last
$132.74 |
Change
-1.870(1.39%) |
Mkt cap ! $222.1B | |||
| Open | High | Low | Value | Volume |
| $133.10 | $133.50 | $132.52 | $200.1M | 1.502M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8 | $132.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $132.83 | 771 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| CBA (ASX) Chart |