I've been selling Puts, option wise. That has been very profitable this month. Plenty betting for a pullback similar to miners but has not materialised in CBA
TA wise CBA has a large potential of hitting $123 at this point. The closest red line below is the only overhead resistance I can see. That spans from the COVID March madness support of 2020 now turned overhead resistance. It is the only overhead resistance in the vicinity and I personally will take profits from the parcels bought during COVID at the $123 level.
Trend traders and Algos can see how cooled the Stoch and RSI is yet the SP has not pulled back significantly. So this has a very positive trend behind it. $117.36 is the measured magnitude of the green triangle breakout here so that is my minimum upside thus far with $123 overhead to be challenged. So the potential is up here more than down.
Let's see were the Stoch and RSI overheats at, this time around. This have been the most reliable indicator for CBA top as far as I can remember. That is 20+ years worth of CBA TA...
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