It could be an a,b,c for A with a B & C to follow.
Alternatively, it may be a 1,2,3 with a 4 & 5 to follow to complete A in a 5,3,5 wave correction. The only worrying aspect of that scenario is that the 3rd wave has not exceeded the length of the 1st wave which I would expect it to do. The 3rd may continue or develop into a 4th wave or continue up as the larger degree B wave.
If we are in the larger degree B wave it may target the $158.40 peak but that would be in excess of the 61.8% retracement which would be $157.93. I doubt that, in this scenario, the B wave would be that powerful & may peter out at the 50% level of $154.66 or earlier. The C wave is likely to be about equal to the A wave which is $26.51.
As the waves unfold a clearer picture will emerge & more precise targets can be set. The above is purely a road map of what could occur.
CBA Price at posting:
$145.93 Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)