In the chart, you would notice the divergence in the RSI between the 3rd wave & 5th wave & for that matter the B wave, indicating that the market was due to reverse. The onbalance volume indicator was getting towards the top which also indicates a reversal.
The 4th wave retraced exactly 61.8% to the exact cent, further indicating that it was a 4th wave. The 3rd wave comprised of a simple 5 wave count which is usually expected. The 3 impulse waves were $12.61, $21.60 & $16.45
I believe the 5th wave top was at $141.34, the moment the stock went ex-div. What followed, I believe, was a running correction with an a,b,c for A, an a,b,c,d,e for B & we are now in the C wave.
The following corrections could be considered, based on the entire move from $109.94 to $145.24:-
38.2% = $131.76
50%%= $127.55
61.8%= $123.42
The latter looks to be closer to real value.
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Last
$141.05 |
Change
-2.720(1.89%) |
Mkt cap ! $236.0B |
Open | High | Low | Value | Volume |
$143.40 | $143.49 | $140.79 | $366.4M | 2.593M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 500 | $141.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$141.19 | 216 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 141.000 |
1 | 75 | 140.900 |
1 | 2853 | 140.830 |
1 | 3334 | 140.820 |
2 | 1300 | 140.800 |
Price($) | Vol. | No. |
---|---|---|
141.190 | 216 | 1 |
141.250 | 1250 | 1 |
141.270 | 159 | 1 |
141.300 | 800 | 1 |
141.370 | 2658 | 1 |
Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
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CBA (ASX) Chart |