I noticed today the market did retreat from $154.66 before going higher.
I did say $154.67 was the first major resistance with the knowledge that it was possible to go to the next & more significant resistance at $157.79 which happens to be the 61.8% retracement of the $26.51 fall from $167.92 to $141.41.
The CBA share price is in territory where a reversal of trend is expected whether it reaches $157.79 or not. Buying a share with a 3% yield that had risen over 74.6% in 16 months to its peak does not seem to be a good investment. In the short to medium term there would seem to be more downside potential than upside.
CBA Price at posting:
$154.82 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)