re: CBA/SPI CBA retesting its weekly pivot lows of 29.26, with its 3 day lows currently at 29.14 its looks alot like a long squeeze and can easily bounce.
but in saying that, with prices below the quarterly 50% normally i would look for a retest of the new monthly pivot lows currently at 28.35.
CBA with is no div payments until next year will have less of a reason to be purchased & supported compared to WBC and NAB over the coming weeks.
Also note the SPI and its quarterly pivot lows, For the past 3 quarters price has failed at its 50% ratio for the past 9 months. Only once did price tick up 2 ticks above that ratio.
Last night the new Quarter 50% is 3059, it ticked above by a few ticks and failed. I would view the market as suss atm and prices could retest the new monthly pivot lows.
Cheers
re: CBA/SPI CBA retesting its weekly pivot lows of 29.26, with...
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Last
$149.32 |
Change
2.060(1.40%) |
Mkt cap ! $249.8B | |||
| Open | High | Low | Value | Volume |
| $148.41 | $149.73 | $147.41 | $285.2M | 1.937M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2702 | $149.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $149.40 | 20 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| CBA (ASX) Chart |