The money has already been made on this stock. The only way to make money from now on is to wait for a further correction where the yield is better & then hope the price rises back over $140 & then sell. At least if you buy with a better yield, you will get a reasonable return while you are waiting for the price to eventually rise otherwise it is dead money.
It is quite likely the CBA share price will eventually start to rise in a B wave, catching many unwary investors, before falling again in a C wave. Picking the near low on the C wave will be the time to buy. More than likely we are possibly in the 4th wave of A, with the 5th to still occur.
If the market does as I suggested then you should be able to buy with confidence. If you buy in this current, possible A wave you could be caught buying with the B & C waves still to come. I suggest giving the market time to evolve & don't panic buy. If you happen to miss out, it is not the end of the world as it would not have been a good trade with such a low yield & not much to gain. It should be a long time before it makes a new high.
CBA Price at posting:
$135.39 Sentiment: Sell Disclosure: Held
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